The newly-formed economic advisory council to the Prime Minister (EAC-PM) will hold its first meeting on Wednesday after it held a brainstorming session with stakeholders on Monday. The Council will talk about all matters of developing importance, will engage with a broad spectrum of stakeholders and frame advice accordingly, a[Read More…]
Tag: Cashless economy
Cash transaction limit slashed to Rs 2 lakh
The government on Tuesday moved a fresh proposal to cap cash transactions at Rs 2 lakh instead of Rs 3 lakh as provided in the Budget, as it introduced an amendment to this effect in the Finance Bill cleared by the Lok Sabha on Tuesday. The tightening of the cap[Read More…]
Parliament passes bill for wage payment via cheques, e-mode
PoS machines, Aadhar-based transactions at all PDS shops, fertiliser depot within few months: Finance Secretary
In a major step towards digital transactions, PoS machines for credit/debit card as well as Aadhaar-based transactions will be installed at all PDS shops and fertiliser depots over the next few months. Over 1.7 lakh PoS machines have already been installed at public distribution system (PDS) shops and more will[Read More…]
PM Modi likely to address nation on New Year eve, may talk about demonetisation
In a bid to reach out to the people across the country after the completion of 50 days of the much criticised demonetisation move, Prime Minister Narendra Modi will address the nation on New Year eve through public broadcaster Doordarshan, Hindustan Times reported. According to media reports, Modi will talk[Read More…]
Nearly 950 million Indians don’t have Internet connection
While Prime Minister Narendra Modi is pushing India towards digital country or cashless economy, internet connectivity still remains a major problem for nearly 950 million people in the country, a report said. “Even with the internet data plans in India being among the cheapest in the world and the average[Read More…]
Demonetisation biggest scam of the year; worse than natural calamity: P Chidambaram
Former Finance Minister P Chidambaram on Tuesday termed the demonetisation move as the “biggest scam of the year” and demanded a probe on the move. “This is the biggest scam of the year and must be investigated,” Chidambaram said in his address to reporters in Nagpur. “Every bank says there[Read More…]
Nandan Nilekani roped in to usher PM Modi’s digital payments drive
Nandan Nilekani, a high-profile Congress member, has been roped in by Prime Minister Narendra Modi to join a committee to map a path to digital payments. Newsd was the first outlet to report that Nilekani was being mooted for a role as ‘digital advisor’ by the BJP government. Also read: Newsd[Read More…]
Extra credits for students backing cashless economy
University Grants Commission has sent a circular to higher educational institutions, asking them to encourage students to join the centre’s cashless economy campaign by educating the common man on different modes of digital payments. Students participating in government’s cashless economy campaign will be rewarded with extra credits from December 12,[Read More…]
Ministers’ panel proposes Aadhar identification for cashless transactions
The Committee of senior ministers has proposed Aadhar identifications for cashless transactions, enabling biometric authentication for cashless transactions. The Unique Identification Authority of India has planned to increase biometric authentication capacity through Aadhar card to 40 crore a day from 10 crore to constitute PMO’s direction to push forward a[Read More…]
Demonetisation: Loss to biz: 75%; 3-6 mths for normal biz activities: CAIT Gen Secy
Stating that the initial loss to business due to demonitisation as high as 75 per cent, National secretary general of the Confederation of All India Traders (CAIT) Praveen Khandelwal says “it will take three to six months for normal business activities to resume”. What are your observations about demonetisation move[Read More…]