The Government’s initiative to transform Primary Agricultural Credit Societies (PACS) into multipurpose entities has significantly strengthened rural economic activity across the agriculture, dairy and fisheries sectors. Through adoption of the Model Bye-laws for PACS, these societies are now enabled to undertake more than 25 business activities, including operation of petrol pumps, LPG distributorships, Jan Aushadhi Kendras and Common Service Centres, ...

The guidelines issued by the Reserve Bank of India (RBI) on customer services in banks, provides comprehensive directions on usages of regional languages, so that banks could align their service delivery as per the regional needs. Banks have also been advised to have a Board approved policy for general management of the branches including, inter alia, display indicator boards at ...

The Prime Minister, Shri Narendra Modi addressed the opening ceremony of RBI@90, a program marking 90 years of the Reserve Bank of India, in Mumbai, Maharashtra today. Shri Modi also released a commemorative coin to mark 90 years of RBI. The Reserve Bank of India (RBI) commenced its operations on the 1st of April in 1935 and enters its 90th ...

India Post Payments Bank (IPPB) is a scheduled payment bank offering a range of products such as savings and current accounts, remittances and money transfer, direct benefit transfer, bill and utility payments, enterprise & merchant payments and Aadhar Enabled Payment System (AePS). These products and related services are being offered across multiple channels e.g. Counter Services, Micro – ATM, Mobile ...

The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods) The government has settled ₹33,997 crore to CGST and ₹28,538 crore to SGST from IGST as regular settlement. ...

Section 206C (1G) of the Income-tax Act, 1961 (“the Act”) provides for collection of tax by a seller of an overseas tour programme package from a buyer, being a person purchasing such package, at the rate of 5% of the amount of the package. Representations were received from domestic tour operators who were facing difficulties in collection of tax from ...

Cyber financial frauds in banking primarily relate to frauds that have taken place on ATM/ debit cards, credit cards and internet banking platforms. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in written reply to a question in Lok Sabha today. Giving more details, the Minister stated that as per RBI data on frauds ...

State wise list of Non- Credit and Credit Cooperative Societies as per Statistical Profile of National Cooperative Union of India (NCUI) 2018 is given below. District wise list is not maintained centrally. Given the historical heritage of cooperative movement in the country, Government has created a new Ministry of Cooperation with the following mandate as per the Government of India ...

As on 29.10.2021, 21.52 crore loans have been extended to women borrowers by Member Lending Institutions (MLIs) under the Pradhan Mantri Mudra Yojana (PMMY) since inception of the Scheme. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today. The Minister further stated that this ...

The figures of Direct Tax collections for the Financial Year 2021-22, as on 22.09.2021 show that net collections are at Rs. 5,70,568 crore, compared to Rs. 3,27,174 crore in the corresponding period of the preceding Financial Year i.e FY 2020-21, representing an increase of 74.4%. The net collection (as on 22.09.2021) in FY 2021-22 has registered a growth of 27% over FY 2019-20 when the net collection was Rs. ...