RBI Limits Jan Dhan Withdrawal at Rs 10,000 Per Month
shadow

RBI Limits Jan Dhan Withdrawal at Rs 10,000 Per Month

The Reserve Bank of India, issued a notification on Tuesday, said Jan Dhan account holders can withdraw only up to Rs. 10,000 per month. It added that, “Limited or Non KYC compliant account holders may be allowed to withdraw Rs. 5,000 per month from the amount deposited through SBNs after November 09, 2016 within …

Airtel Payment Bank gets over 10,000 savings account users in just 2 days
shadow

Airtel Payment Bank gets over 10,000 savings account users in just 2 days

Airtel Payments Bank said over 10,000 customers have opened savings accounts with it within two days of going live with a pilot project in Rajasthan. The customers mostly comprise of people from semi-urban and rural areas. Shashi Arora, MD & CEO, Airtel Payments Bank said, “We are offering the highest interest …

Demonetization Move Slows Down PC, Mobile Devices Market in India in CY Q4 2016: IDC
shadow

Demonetization Move Slows Down PC, Mobile Devices Market in India in CY Q4 2016: IDC

Indian government’s decision to scrap high-valued notes of Rs 500 and Rs 1000 which accounts for more than two-third of the cash stream will lead to “immediate but temporary” fall in device sales in Q4 2016, according to research firm IDC.  In the mobile phones segment, IDC analysts revised the estimated sales …

Digital transactions in banking sector going up: SBI
shadow

Digital transactions in banking sector going up: SBI

SBI Chairperson, Arundhati Bhattacharya, said on Thursday, , “Digital transactions have really gone up in the sense that if you look at my PoS transactions, it is 300 per cent up in numbers and 200 per cent by value. If you take a look at the wallet, the wallet download is hugely up. In fact, we have never seen so …

Banks waive MDR for all debit cards till Dec 31
shadow

Banks waive MDR for all debit cards till Dec 31

As people continue to face cash crunch after the scrapping of high value notes, the Union government on Wednesday decided to waive off MDR (Merchant Discount Rate) charges on use of debit cards and service charges on online Railway ticket booking till December 31. “Public sector banks and some private sector banks …

Railways waives off service charges for booking online tickets till Dec 31
shadow

Railways waives off service charges for booking online tickets till Dec 31

The Indian Railways on Tuesday announced that it would waive off service charges for E-tickets and I-tickets booked through Indian Railway Catering and Tourism Corporation Ltd (IRCTC) in a bid to encourage cashless transactions from November 23 to December 31, officials said. “Now the passengers won’t …

Borrowers to get additional 60 days to repay loans: RBI
shadow

Borrowers to get additional 60 days to repay loans: RBI

The Reserve Bank of India (RBI) has provided some relief to small borrowers and firms struggling to make repayments on their loan dues due to a shortage of cash. In a press release issued on Monday, the RBI offered an additional 60-days to certain categories of borrowers to make good on their dues. The relief …

Adani to start constructing solar plants in Australia next year
shadow

Adani to start constructing solar plants in Australia next year

Adani Enterprises announced that it proposes to commence construction of two major solar projects in Australia next year, each with an output of 100-200 MW. Adani says land agreements are in place, and design and tendering work is under way, with construction flagged to start next year. The company is also …

Schemes like Clean India to make country eco superpower: President
shadow

Schemes like Clean India to make country eco superpower: President

India’s President Pranab Mukherjee said that “India will become a modern eco power in the whole world!” only if the innovative schemes by the government such as ‘Clean India’ and ‘Digital India’ are successfully implemented. He also remarked that , “India is on beyond the way of Second Green Revolution and right …