Pension watchdog eyes Atal Pension Yojana to boost New Pension System corpus by Rs 50K crore. Pension fund regulator PFRDA is hopeful of increasing the corpus of New Pension System (NPS) by Rs 40,000-50,000 crore by the fiscal-end, driven by subscription to a newly launched social security scheme. The Centre has launched Atal Pension Yojana […]
NPS corpus grew by ₹25000 cr in 2014-15, says PFRDA chief
NPS corpus grew by ₹25000 cr in 2014-15, says PFRDA chief Expects assets under management to grow this year by ₹40,000-50,000 cr The subscriber base of the National Pension System (NPS) increased by about 18 lakh and its corpus grew by about ₹25,000 crore in FY15, according to Hemant Contractor, Chairman, Pension Fund Regulatory and […]
Jan Dhan rolls on, but ‘dhan’ in accounts slow to accrue,
Jan Dhan rolls on, but ‘dhan’ in accounts slow to accrue, About 47 per cent of bank accounts opened under the Pradhan Mantri Jan-Dhan Yojana in Karnataka have zero balance Banks in Karnataka have gone about creating no-frills accounts under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) with great zeal and created close to 72 lakh […]
Making financial inclusion viable
Making financial inclusion viable Recently launched social schemes can improve business for rural banking outlets Financial inclusion has been high on the Modi-led Government’s agenda. Apart from mandating banks to open more accounts in rural areas, the Centre is also pitching to make financial inclusion initiatives more viable this time around. For one, the government’s […]
Government of Himachal Pradesh to contribute to workers’ bank accounts under APY
Government of Himachal Pradesh to contribute to workers’ bank accounts under APY The Himachal Pradesh government would make a contribution of at least Rs 1000 per annum for the next three years in the accounts of workers under Atal Pension Yojna(APY). A budgetary provision of Rs 10 crore under the scheme will benefit one lakh […]
Should you invest in Pradhan Mantri Jeevan Jyoti Bima & Suraksha Bima Yojana?
Since the target audience for these schemes is a low strata of the society, it is not advisable for those belonging to the middle class or upper middle class, whose life insurance needs are much more. Prime Minister Narendra Modi announced three major social security schemes which would an an extension to Pradhan Mantri Jan-Dhan […]
Centre’s insurance schemes a huge success in Goa
More than ten per cent of bank account holders in Goa have enrolled themselves for the Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APY), according to latest information received by ‘The Navhind Times.’Actual percentage may even be higher, as of the 22.75 lakh bank account […]
Not many takers for PM’s social security schemes in Meghalaya
The three social security schemes launched by Prime Minister Narendra Modi on May 9, 2015 – Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Yojana and Atal Pension Yojana – have generated lukewarm response from people in Meghalaya. Speaking to The Shillong Times, State Bank of India (DGM), Deepak Lala informed that in Meghalaya […]
Maximising the post office
Instead of hamstringing public sector banks with social schemes, it is time to transfer many of these financial tasks to India Post. Public sector bank employees are so overwhelmed by the sheer number of government-sponsored schemes they are saddled with, that they have begun to come up with parodies. One such spoof scheme is what […]
Inclusion and opportunity
To be a catalyst for growth, financial inclusion must also be commercially viable. The opening of more than 11.5 crore bank accounts under the Jan Dhan Yojana (JDY) in less than a year is no doubt a tremendous achievement. It has been nearly 10 years since the term “financial inclusion” started gaining currency in Indian banking. […]
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