Tue, May 30, 2017 | updated 02:41 PM IST

Demonetisation: PMJDY witnesses massive jump in deposits

Updated: Nov 23, 2016 17:35 IST      
Demonetisation: PMJDY witnesses massive jump in deposits

New Delhi [India], Nov. 23 (ANI): Ever since Prime Minister Narendra Modi announced that Rs. 1,000 and Rs. 500 currency notes would no longer be legal tender, the bank accounts opened under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) witnessed a massive jump in their deposits.

According to government sources, these accounts have witnessed deposits worth over Rs 21,000 crore.

Most of these deposits have been made in Mamata Banerjee's West Bengal followed by Karnataka, which is currently under the Congress administration.

The government has "not ordered any enquiry against any bank" in cases of banks depositing Re 1 in large number of Jan-Dhan accounts without knowledge of the account holder in order to minimise zero balance accounts.

"No enquiry has been ordered against any bank," Minister of State for Finance Santosh Kumar Gangwar said earlier in reply to a question in Rajya Sabha, asking whether an enquiry has been ordered against four public sector banks with regard to depositing Rs 1 each in Jan-Dhan accounts.

The Pradhan Mantri Jan-Dhan Yojana is national mission for financial inclusion to ensure access to financial services namely banking/ savings and deposit accounts, remittance, credit, insurance, pension in an affordable manner.

Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet. PMJDY accounts are being opened with Zero balance. However, if the account-holder wishes to get cheque book, he/she will have to fulfill minimum balance criteria. (ANI)

New Delhi [India], May 30 (ANI): GST implementation may hold positive surprises for states' finances and as per the initial calculation, the states can look at a total gain of Rs. 350 to 450bn (0.2-0.3 percent of GDP).

Full Story >>

New Delhi [India], May 30 (ANI): Adecco Group, the world's leading provider of HR solutions, has selected 48 talented young people from all over the world to take on the role of *CEO for one month. The India selected finalist - Mohit Mahajan will work alongside and under the mentorship of Priyanshu Singh, Country Manager and MD, Adecco Group India.

Full Story >>

New Delhi [India], May 29 (ANI-NewsVoir): Thought provoking and possible game changing discussions on access, use, disposal and treatment of menstrual hygiene products in India were presented at the one day consultation: Pushing the Boundaries on the MHM Dialogue held here on Monday.

Full Story >>

New Delhi [India], May 29 (ANI-NewsVoir): OPPLE, a global integrated lighting solutions company, and one of World's Leading LED Lighting brand today announced their 'Gold Eagle Club', an elite and exclusive club for their top 8 dealers from all over India.

Full Story >>

New Delhi [India], May 29 (ANI): DigitalF5, the leading digital innovator with vast expertise in the domains of Design and Content, Marketing and Technology, has recently acquired AdClear, a Google Partner Company specializing in the domain of performance digital marketing.

Full Story >>

Jaitley hails GST as 'efficient tax system to curb evasion'

Updated: May 29, 2017 17:16 IST     

Bengaluru (Karnataka) [India], May 29 (ANI): Hailing the Goods and Services Tax (GST) Bill as an efficient tax system for India, Union Finance Minister Arun Jaitley on Monday asserted that the new taxation regime will help in maintaining a strict vigil on tax evasion, thereby strengthening the Indian economy.

Full Story >>

ED attaches 30 kg gold of J. Sekhar Reddy, associates

Updated: May 29, 2017 16:48 IST     

New Delhi [India], May 29 (ANI): The Enforcement Directorate (ED) on Monday provisionally attached 30 kg of gold bars worth Rs. 8,56,99,350 of J. Sekhar Reddy and his associates in lieu of the exchange of old notes to new currency notes under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA).

Full Story >>

New Delhi [India], May 29 (ANI): In the backdrop of a re-branding drive, AWPL on Monday announced its new corporate identity, reflecting the company's transition to help enterprises in the insurance and banking industries to embrace transformation to the digital era.

Full Story >>

PSP Projects makes its debut; opens at Rs. 195

Updated: May 29, 2017 15:24 IST     

New Delhi [India], May 29 (ANI): Multi-disciplinary construction company PSP Projects on Monday witnessed a cut of seven percent as compared with the issue price of Rs. 210.

Full Story >>

HP and KPMG introduce 'GST solution' for traders, MSMEs

Updated: May 29, 2017 14:19 IST     

New Delhi [India], May 29 (ANI): HP India in collaboration with KPMG on Monday announced the launch of a comprehensive, secure and affordable invoicing platform 'GST solution' to help transition millions of traders and Micro, Small and Medium Enterprises (MSMEs) to Goods and Services Tax (GST) regime.

Full Story >>

Finova Capital names Rajiv Sabharwal as its Strategic Advisor

Updated: May 29, 2017 14:03 IST     

New Delhi [India], May 29 (ANI): Fast growing NBFCs based out of Jaipur, Rajasthan and floated by ex-senior banker Mohit Sahney, Finova capital on Monday announced its association with Rajiv Sabharwal as the strategic advisor.

Full Story >>

Pak budget has clear Chinese footprint-Experts

Updated: May 29, 2017 10:49 IST     

Islamabad/Lahore [Pakistan], May 29 (ANI): Financial and economic experts in Pakistan have said that budget proposals announced for fiscal 2017-18, have a clear and visible Chinese footprint.

Full Story >>

Ingredients of an impactful video content strategy

Updated: May 29, 2017 05:03 IST     

New Delhi [India], May 29 (ANI): Video content marketing is the integration of video as a part of content strategy that goes along with other forms like social text posts, banners, posters, photos, blogs, websites, etc.

Full Story >>

New Delhi [India], May 28 (ANI-BusinessWire India): Moving from one place or city to another is a part and parcel of our life. Sometimes we have to move from one place to another for better opportunities or some specific circumstances. Moving to a new place especially with lots of goods and household effects can be tedious and complicated process bringing an individual in stress and hassle.

Full Story >>

Criminal prosecution by IT Dept. surged by cent pct during Modi regime

Updated: May 27, 2017 19:41 IST      By: Shailesh Yadav

New Delhi [India], May 27 (ANI): Criminal prosecution by the Income Tax Department has witnessed a sharp increase of more than 100 percent during the last three years of Prime Minister Narendra Modi-led Government.

Full Story >>

New Delhi [India], May 27 (ANI): Aiming to empower Nagpur's electric mobility drive, Ola and Mahindra on Friday announced their collaboration with the Government of India in a first-of-its-kind programme to build an electric mass mobility ecosystem in Nagpur, which will bring about a transformational change in the automotive and transportation landscape in the country.

Full Story >>

New Delhi [India], May 27 (ANI-NewsVoir): President of India Pranab Mukherjee received the first copies of the book 'Mann Ki Baat' - A social revolution on Radio, at Rashtrapati Bhavan, New Delhi, on May 26, 2017.

Full Story >>

New Delhi [India], May 27 (ANI-NewsVoir): Indian-American Businessman Nitin Khanna entered California with his Cannabis business, the fastest growing industry in America. As more states legalize recreational use, the demand for premium cannabis is expected to increase. With a population of 39.1 million, California is the largest market in America within this industry; it was also the first state to legalize the medical use of marijuana back in 1996.

Full Story >>

Epson launches express service centres in NCR

Updated: May 27, 2017 09:23 IST     

New Delhi [India], May 27 (ANI): Digital imaging and printing solutions provider Epson on Friday announced the inauguration of two express service centres in Noida and Gurugram.

Full Story >>

Pune (Maharashtra) [India],May 26 (ANI-Businesswire India): Bajaj Finserv, India's most diversified financial company, through its lending arm Bajaj Finance, is offering home loans at just 8.50% for a limited period. The special offer is valid till May 29, 2017.

Full Story >>