RBI extends deadline for deployment of Aadhaar based PoS terminals till June of next year

RBI extends deadline for deployment of Aadhaar based PoS terminals till June of next year The Reserve Bank of India(RBI) has been decided to extend the time for deployment of Aadhaar-enabled devices till June 30, 2017. The time was extended by six months because of  the rate of deployment of acceptance infrastructure has slowed down owing to the mismatch between demand and supply of

South Africa committed to hosting 2022 Commonwealth Games

South Africa committed to hosting 2022 Commonwealth Games, 

 South Africa remain "fully committed" to hosting the 2022 Commonwealth Games in Durban despite falling short of requirements, officials said, adding they were still in talks with the Commonwealth Games Federation (CGF) over their bid. The comments came on Wednesday, the deadline to resolve a

Trai extends data packs validity to 1 year from 90 days

To boost usage by marginal consumers and attract first-time internet users, the Telecom Regulatory Authority of India (Trai) on Friday allowed the telecom operators to offer data packs with the validity of 365 days, extending the maximum permitted time period for such offers from 90 days.The move will benefit the entry level users, who go for cheaper data plans with longer validity

India Post Payments Bank incorporated

The India Post Payments Bank Limited (IPPB) on 17 August 2016 was incorporated. In this regard, it has received the Certificate of Incorporation (CI) from the Registrar of Companies, Ministry of Corporate Affairs under the Companies Act, 2013. The incorporation also paves the way for the constitution of the Board of the India Post Payments Bank Limited.

SBI approves merger with associate banks; 8 things you should know

NEW DELHI: State bank of India, the country's largest lender, on Thursday approved the merger of its operations with five of its associate banks. Post approval, State Bank of Travancore, State Bank of Mysore, State Bank of Bikaner and Jaipur and Mahila Bank will stand merged with SBI. Earlier in June, the government gave the go-ahead to the merge SBI with its five associate lenders and Bharatiya Mahila Bank.

Now, No Extra Charges For Payments Through Credit, Debit Cards

New Delhi: In order to promote cashless economy, the government has said it will bear the transaction cost for all payments made to it through debit or credit cards and net banking. At present, customers bear the transaction cost commonly known as merchant discount rate (MDR) on payments made to the government."Government departments shall take appropriate steps to bear MDR cost like other merchants.

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e-Marketplace launched

Commerce minister Nirmala Sitharaman on Tuesday launched the government e-marketplace. It's a one stop online marketplace for govt buyers and is expected to be a game changer. The "e-marketplace" has been launched online purchase of goods and services by various central government ministries and departments. The e marketplace is expected to bring tranparency and improve governance. To begin with common use

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RBI To Transfer Rs 65,876 Crore Surplus To Government

Mumbai: The Reserve Bank of India will transfer to the central government its surplus profit of Rs 65,876 crore, marginally lower than the amount given last year. "The (RBI Central) Board approved the transfer of surplus of the Reserve Bank for the year 2015-16 amounting to Rs 658.76 billion to the Government of India," the central bank said in a statement. The amount was Rs 65,896 crore for the previous year. The RBI

RBI To Inject Rs 10,000 Crore Via Open Market Operations

Mumbai: In a bid to meet the perceived liquidity crunch due to upcoming redemption of $20 billion, the Reserve Bank of India on Tuesday announced pumping Rs 10,000 crore by buying government securities. "Based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct purchase of Government securities under Open Market Operations for an aggregate

SBI Life embedded value at Rs 12,999 crore

SBI Life Insurance has announced its embedded value as Rs 12,999 crore on March 31, 2016. The insurer’s new business margin, based on medium term acquisition expense assumption, stood at 16 per cent and on current level of acquisition expense, stands at 14.2 per cent. It reported a net profit after tax of Rs 215 crore for the first quarter of FY17, an increase of six per cent over the last year in the same period.  

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Finance ministry starts studying rail, general budget merger

NEW DELHI: The Indian railway budget may no longer be a standalone financial plan and may instead be merged with the general budget as early as next year, with the government considering a proposal to combine them. "It's a possibility next year," Arvind Panagariya, vice chairman of NITI Aayog, the government's policy-making body, said on Monday, responding to a query on the possibility of merging the

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