Page-4 of Financial inclusion Current Affairs, GK & News

Airtel Payments Bank launches ‘Bharosa savings account’

The Airtel Payments Bank has launched the Bharosa Savings Account to deepen the financial inclusion in the country. It has been designed to serve the unique needs of under-banked and unbanked population of India. The account offers free Personal Accident Insurance cover worth Rs 5 Lakhs on maintaining a balance of just Rs 500 along ..

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Chit Funds (Amendment) Bill, 2019

The Union Cabinet has approved the introduction of the Chit Funds (Amendment) Bill, 2019 in Parliament. If passed and made into a law, the bill aims to substantially lower the compliance requirements on the registered legal chit funds of India.? This will be beneficial to both the organizers and the subscribers of the chit fund. ..

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India Post Payments Bank to be converted into Small Finance Bank

Indian Posts has made a decision to convert India Post Payments Bank into Small Finance Bank. This will enable the Bank to offer small loans to customers. Payment Banks Payments banks were introduced by the Reserve Bank of India (RBI) to meet the government’s financial inclusion target. A payment Bank will be set up as ..

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RBI eases norms for Basic Savings Bank Deposit Accounts

The Reserve Bank of India (RBI) has eased the norms for the Basic Savings Bank Deposit Accounts. New Facilities Issuance of Cheque Book which may/may not be priced. Allowing deposit of cash at bank branch as well as ATMs/CDMs without imposing any limit on the number and value of deposits that can be made in ..

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Nandan Nilekani committee submits report on digital payments to RBI

A Reserve Bank of India (RBI) – appointed committee headed by Aadhaar architect Nandan Nilekani submitted its report on promoting digital payments to RBI Governor Shaktikanta Das on May 17. The RBI will examine the recommendations of the committee and will link the action points, wherever necessary, in its Payment Systems Vision 2021 for implementation. ..

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