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Aadhaar not mandatory for opening bank accounts or linking with mobile SIM registration or other related services which includes issuance of tatkal passport services. However, apex court has kept the Aadhaar mandatory for Social Security Schemes and DBT. The apex court ruled that the deadlines for linking to the Unique Identification number stand extended till […]
Supreme court of India has extended the validity of linking Aadhaar with Bank accounts & other services to indefinitely. Meanwhile the apex court has also made Aadhaar mandatory for all the subsidies & benefits under section 7 of constitution. Here is the list of Social Schemes where Aadhaar is mandatory to verify the claim of the […]
Post Punjab National Bank Fraud – Reserve Bank of India (RBI) has started the auditing of all the public sector banks for issuance of LoU’s and trande finance business activities. The RBI audit will look after the exisitng process and following of extant guidelines by Foreign Exchange branches of PSB’s. It is believed that majority […]
e-Way relataxtion up to Rs 50,000 – Goods and Services Tax (GST) Council has made inter-state movement of goods worth over Rs 50,000 to have e-way bills from April 1. The requirement for such bills in intra-state movement would be implemented in a phased manner. It means the council has given the relaxation for small delivery and e-commerce, courier companies […]
Reserve Bank of India (RBI) has imposed Rs 5 crore penalty on Airtel Payments Bank for non violation of Know Your Customer (KYC) norms. Earlier based on the media reports RBI had enquired the payment bank between November 20 and 22, 2017and found that bank had opened customer accounts without a clear/specific consent of the customers. […]
eWallet to Mutual Fund – Paytm gets SEBI node as registered investment advisor for selling of mutual funds in India. Paytm Money – the wholly-owned wealth management arm of financial services platform of Paytm. After getting node from SEBI, Paytm is joining hands with close to a dozen AMCs (asset management companies) and will roll out […]
The last date for linking Aadhaar number with all the investments including bank account may be extended beyond 31st March 2018. The central government has intended in the Supreme Court. The Central Government said in the court that since some more time would be needed to conclude the prolonged hearing in the Aadhaar case, the government […]
ICRA report on probable PSB’s under PCA – Recall of Rs 157-bn AT-1 bonds may lead five Public Sector Banks under Reserve Bank of India’s (RBI’s) Prompt Corrective Action Plan (PCA). These five public sector banks are Canara Bank, Punjab National Bank, Union Bank of India, Andhra Bank and Punjab & Sind bank. Earlier, With losses during […]
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