Tuesday 19 May 2020

Thanks to RBI Switch : PM Modi's cashflow crisis got more bearable

financial ,
Thanks to RBI Switch : PM Modi's cashflow crisis got more bearable

To face problems of cash flow a few months before the national election, Prime Minister of India Narendra Modi could be a savior in the country's new central bank chief.
India's expenditure is more than its revenue, which is why the government is looking for money to help the sick banking sector - the key to promoting loans and investments and to make jobs. Officials of the finance ministry estimate that the Reserve Bank of India needs at least 3.6 trillion rupees ($ 50 billion) of capital, which they say they say that can be used to help strengthen the banks is.




Eurasia Group Says


Sasha Risar-Koštiski, an analyst at Eurasia Group, said, It will be difficult for the government to meet its target, substantial new revenue from sale of property or as a transfer from RBI. The government may also seek to postpone losses for postponing some payments in the next financial year.

The general election in the next year


It is important for PM Modi to firing economic engine before a general election the next year, whose party had stopped from defeat in the main regional elections last week. While using RBI's surplus capital to support banks, there was an issue of dispute with former governor Urjit Patel, it can not be the case now.



After Patel's Exit 

A former bureaucrat Shaktikant Das, picked by PM Modi to run the RBI after  Patel’s exit, is open to the government on their concerns about the economy - whose growth slows in September through three months. For the Reserve Bank of India, it will help boost the government without losing its target of 3.3 percent of the budget deficit for sharing its capital.
Although the government has refused to ask the Reserve Bank of India for any special amount,  the central bank has agreed to create an expert panel to decide on the appropriate level of reserving reserves.
The government is planning to introduce some 420 billion rupees ($ 5.9 billion) for recapitalization to some state-run banks this month. It will also have to pay for health care program and farmers will have to purchase crops at guaranteed prices.
Everyone agrees that state-run banks need to do more for recapitalization but all do not agree with how the administration is going about it. S & P Global Ratings said that the growing participation of the government in central bank cases could reduce the profit in the country's banking system.

Revenue 

With total revenues of 45.7 percent for the whole year's target and less than 48.1 percent of the previous year, the tax authorities and the asset sales department are increasing with the total revenue, so that the targets are good at the target.
Monthly collection of new goods and services tax has detected the target of 1.1 trillion rupees, and the Finance Ministry is banking on direct taxes for the shortage. The share of stake sale in state-run companies has also come down, only 42 percent of the targeted target has been realized.

Expenses

The expenditure in April to October was 59.6 percent of the budget estimate. In order to provide guaranteed prices to the farmers for the crops, a program is expected to be included in the food subsidy bill, while fuel subsidies have increased in oil prices.

In September, the cost of the health care program worth Rs 120 billion kicking is expected to be reflected in the fiscal second half.


Expenditure may be required to meet budget goals, but it can be easier said than done in the election year.


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Tuesday 25 September 2018

FDI in food process touches $1billion mark this year

financial ,
FDI in food process touches $1billion mark this year

The foreign direct investment (FDI) within the food process sector has already touched the $1-billion mark up to now this year, Food process Minister Harsimrat Kaur Badal said weekday.
"When we have a tendency to took over the govt. in 2014, FDI within the food process sector wont to be $500 million per annum. This year, we have a tendency to touched $1-billion mark. this is often a tip of the iceberg, we've to travel a protracted method," Badal  addressing the CII event on post harvest and supply.

According to official knowledge, FDI within the food process sector was $904.9 million within the 2017-18 financial , whereas it stood at $727.22 million, $505.88 million and $515.86 million in 2016-17, 2015-16 and 2014-15, severally.
The FDI in multi-brand retail was allowed keeping in mind the requirement to spice up food process level and supply another market to farmers to sell their turn out, she said.
The focus was to envision retailers directly procure farm turn out from farmers. "I am happy to envision corporations like underground and Walmart area unit keen to holdup directly with farmers."
About $14 billion that was committed throughout the globe Food Republic of India 2017 for next few years, the minister aforesaid, "I am happy to share that seventy p.c of the comes have already started the grounding."


This will facilitate grow the process levels and cut back food wastage that is calculable to be Rs one hundred thousand large integer each year.
Talking regarding domestic investment, National Rainfed space Authority (NREA) CEO Ashok Dalwai aforesaid, "We have seen that the captive investment in agriculture, that is pre-requisite for any reasonably accelerated growth, has not extremely happened through the company sector."
While the non-public investments have for the most part been through farmers themselves, the company sector that ought to have contend a larger role has not extremely done thus.
Dalwai aforesaid the company sector can't be curst because the government -- that ought to are the trigger in transferral the investment within the non-public sector has not tailored the policy that suits its demand.
Also, there has been captive investment in trade and services sector since alleviation in 1991.
"Agriculture, that is that the primary economic activity and during a method it's the economic sector that generates the demand for services and trade sectors, wasn't subjected to the alleviation. however within the last four years, the emphasise has been on transferral in reforms within the sector and create it a non-public sector enterprise.

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Friday 21 September 2018

How is Rupay card completely different from Visa or Mastercard?

banking ,
How is Rupay card completely different from Visa or Mastercard?



Have you detected concerning RUPAY cards? nowadays we are going to speak them very well and the way they're completely different from Visa or MasterCard and if you must opt for them or not. however before that, let’s perceive the background 1st.
What is Visa or MasterCard?
You should be already having a charge account credit or mastercard that must be having either VISA or MASTERCARD written on that. Visa and MasterCard square measure mastercard networks with their own systems, rules and processes for payments, edges etc.
However Visa and MasterCard square measure each yankee corporations globally accepted and wide used card networks across the planet. There square measure another card networks additionally like yankee specific, Amex, Citi etc, however you bought the purpose. These square measure international card corporations.
Now these corporations don't directly issue a debit or mastercard, however numerous banks across the planet provide their cards with payment network operators which may be VISA, MASTERCARD or others.
What is Rupay?
Rupay is simply another payment network resolution like VISA or MASTERCARD, however it’s our own desi version. It’s AN Indian company ANd strictly an autochthonal product creates by North American country. Here is what rupay web site says
Rupay cards usage is increasing
Online transactions square measure increasing day by day in India as we have a tendency to square measure moving towards money less economy and also the usage of rupay cards are increasing. Here is a few knowledge on rupay on-line transactions.
Why Rupay was launched?
As we have a tendency to square measure moving towards turning into one in every of the main economies of the planet, it had been important that we have a tendency to own our own payment solutions like Visa and MasterCard and thence govt started functioning on Rupay!.
Two additional edges of rupay card network square measure that.
•             The dealing history won't depart of the country if the dealing is at intervals India.
•             The charges that banks need to pay quarterly or monthly to the connected corporations to enter into the network is extremely low or nix.
The image below show you ways a Rs a pair of,000 dealing charges are going to be lower in rupay cards compared to a visa or MasterCard.
How will any card process happens?
When you swipe your charge account credit or build an internet payment, your request 1st goes to the charge account credit networking and so from there it goes to you bank. at that time bank confirms your account balance and so completes the any procedure or transferring payment cash to merchants account.
Difference between Rupay card and Visa/Master card
Now let’s state some variations between rupay and visa/MasterCard corporations. this may provide you with a good plan on however they're completely different from one another on numerous points.

Rupay

Visa/MasterCard
Rupay is 100% Indian system
Visa/MasterCard are international systems
Lower transaction charges compared to Visa/MasterCard
It has higher transaction charges than Rupay Debit Card.
Banks don’t have to pay any fees to enter into the network
Banks have to pay fees to join the network
Transaction history remains within country.
Transaction data is shared outside the country as it is an international card
All processing is done within the country so it has high speed of transactions
Here the processing happens at an international level so sometimes it has low transaction speed or errors in server
Some banks shows rupay credit card on their website but it is not launched officially yet by NPCI.
Visa/Master credit cards are available and have a strong network
The usage is very low and not widely accepted as of now
Widely Accepted and Used
Can’t be used outside India as of now
No restrictions like this

Transactions limits of Rupay charge account credit
Rupay cards like every alternative cards even have dealing limits and ATM withdrawal limits. Here could be a fast list if you would like to refer them.
Bank Name
Limits (ATM transactions)
Central bank of India
Rs 40,000 and Rs 1,00,000
Bank of India
Rs 25,000 each
Bank of Baroda
Rs 25,000 and Rs 50,000
Vijaya bank
Rs.30,000 and Rs.25,000
Punjab national bank
Ra.25,000 and Rs.60,000
Oriental bank of commerce
Rs.25,000 each
Dena bank
Rs.20,000 and RS.25,000
UCO bank
Rs.25,000 each

How to Apply for Rupay card?
If you would like to use for rupay charge account credit, then you want to 1st refer to your bank if they need them or not? All the bank accounts below Jan Dhan Yojana already offer you the rupay card, you don’t ought to mention {separately|individually|singly|severally|one by one|on AN individual basis} in your charge account credit application if you open an account below this theme.
Let us apprehend if you would like any further data concerning rupay card and that we are going to be happy to answer them in comments section.

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Sunday 16 September 2018

10 steps to ensure the safety of your ATM / Debit / Credit Card usage

banking ,
10 steps to ensure the safety of your ATM / Debit / Credit Card usage



In the last 10-15 years, card usage has at least changed the cash transactions in urban India at a large level. Now we do not go to the bank to withdraw cash. Almost everyone likes to pay by card when we mall, grocery stores or when we fill petrol in our cars.
Increase in card fraud
While ATM / debit / credit card usage has increased, hence the card related fraud is also there. Most of the time the card holder is due to the negligence of the card holder. In this post, I will talk about a number of things that you should keep in mind that will provide you protection against fraud or any crime that could potentially happen. The things that we talk about in this article will be for ATM cards, debit cards, credit cards and even internet banking transactions.

1. Erase the CVV number on the back of the card

Once you use your ATM card several times, it is recommended to scratch the CVV number behind the card. Once they use it 5-10 times, almost everyone will remember the 3-digit CVV number. You can also write a CVV number in your mailbox and if you want to record it at some place, then email it automatically.
Although this will not completely preserve you from fraud, but it will definitely reduce the possibilities.

2. Change the PIN as soon as you receive the card

Once you get your card for the first time, it is suggested that you activate the app and then change the PIN. Try to avoid seeing the PIN as your birthday, postcode or phone number. Make it a random number or some combination so that you can relate.
If you do not change your default PIN in which the letter is included, then it may be that someone sees it and misuses your card because they have access. This is the reason why you should also delete the old password document.

3. Activate SMS Alert for any amount above zero

It has been suggested to activate SMS and mail alerts for all transactions.
If you do not want any SMS for a specific amount of 500 or 1000 rupees, then you can set an alert over that amount, but make sure you do it. Many people coming from the old generation like our parents, uncle etc. are new to these card payments and do not activate these facilities. Please do this for them

4. Keep the customer care number saved on the phone

It is always a good idea to store your bank / card customer care numbers on your phone, so that you can inform them of fraud or issues as soon as possible.
Imagine that you have lost your card and you are thinking - "Once I return home, I will call the care of the customer and will share this incident so that they can block my card". This is not a good condition, because in a few minutes, who has the card, can swipe and use it (provided it knows other details)
It is better to avoid late in reporting this incident, because once the money is debited from your account, then the matter becomes complicated and you will spend many times in fixing and following this issue
prevention is better than cure …

5. Avoid using ATMs at night or in places that are not safe

There are many instances where I wanted to withdraw cash from ATM at night, and my wife always tells me that we can always do it in the morning because it is better to avoid ATMs at night, especially when it is not an emergency is.
I think that makes sense.
Whereas, 100 times to 99 times nothing will happen. But then that's a bad incident that you want to avoid.

6. Do not enter ATMs at any time when you are using it

If there is only one ATM machine inside the room, then do not allow to enter the ATM if you are using it. Once you use it, you can ask to enter the room directly.
Occasionally, people do not have enough civilization to understand that ATM usage is a very personal activity and should not be seen or not seen in your screen.

7. Never miss an incomplete transaction

There are many ATM frauds which have happened because the person left without completing his transaction. Unless the "welcome screen" comes back, you should never leave an ATM screen.
There are cases where the computer is hanging either because of a technical problem or someone has made some moves to it. Once finished, always press the cancel button or understand that there is a problem.
Below is an excerpt from a report of Indian Express that shares more information about keypad jamming fraud at ATMs.
If your ATM screen is hanged or facing any problem, make sure you contact the security guard or at least call customer care within the ATM.
All ATMs have a CCTV machine and it will record your activity which will later help you with any problem or dispute. Here is a real life that how ATM fraud can be from a fellow blogger settlement.

8. Never share your debit card PIN when you make a purchase

When you go to the petrol pump to fill your car or while eating food at the restaurant, try to avoid sharing the ATM PIN when making a payment. Many people allow others to enter their PIN because they do not want to run the machine swipe in every way.
I like to go down and enter a PIN or ask them to bring a swipe machine.
Although it definitely connects to the facility by sharing the PIN, but it also tells you about the risk of debit / credit card fraud. No one is stopping the person who has your card to note your card number, expiry date, CVV number (most people do not scratch it) and write the PIN shared by you. In some extreme cases, your card can be swiped on the skimming machine to steal information and duplicate the card.
Many people think that just because someone has a description of their card, they are still safe because OTP arrives at their mobile or when asked for an additional password of 6 points while making online transactions. However, they are wrong.
While Indian websites will definitely fail during the transaction, they will be successful while using the card on international websites, because OTP has not been sent there. Also, while doing transactions on many websites outside India, an extra 6-digit password is not asked.

9. Never share your PIN, OTP, CVV and other sensitive details

My father-in-law is a senior citizen and despite being a bank employee for many years - I can tell you clearly that he can be victim of many online fraud related to banks because he is very new to these card payments and internet banking. is. She is related to that old age and her banking is very different from today's banking.
Like them, your parents, grandparents and law will definitely be from generation to generation, how these online things work, it does not quite understand.
When he receives a call from someone who says - "I am calling from the bank and ...", for them it is a real call and they can not tell any difference between the fake call and the real. And they always live on the list of frauds.
These days, many online frauds are going on, where a person comes in the form of a bank employee and then the person is afraid of the other side things like
• "This is a verification call from the bank, please share the OTP that has come to your mobile right now"
• "Now you will get a new card because the old has been canceled, please share 3 digits behind the card to accept it"
• "We see that 20,000 transactions have happened now, have you done this? Please share an OTP that has come to your mobile to verify that you are the cardholder"
Listen to this YouTube conversation, where a girl is presenting as SBI employees and trying to get information. Imagine if your parents or some senior citizens receive such calls, how will they respond?

10. Do not expose the cash withdrawal from ATMs

I have done this a few times, and now I understand that this was a mistake.
When you take cash from ATMs, if it is a large amount - many times ATMs, some people catch cash bundles, without feeling that nobody can see them.
It is always recommended to keep a bag with you and to put cash inside it or keep cash at least cash or pocket until you reach your car or house. There may be many bad elements nearby and they will keep an eye on you. They can be behind you and later they can attack you. They are actually also in real life which really happens

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Thursday 13 September 2018

Basic Services Demat Account

Market ,
Basic Services Demat Account



Do you have a demat account or a plan to get one? Then you should know what is the basic service demat account, because if you are planning to do very little business and want to save on the annual maintenance fee, it can be helpful for you.
The Basic Services Demat Account is known as the original version of a full demat account which provides basic level of services. This is ideal for those whose portfolio size is quite small. We will see the details in this article. But before that, do you know what is a demat account in the first place?

What is a Basic Services Demat Account?

Demat or dematerialized account means an electronic account in which there are various financial securities (especially shares) securely electronically. Demat account is a compulsory account for those who want to buy shares of the company from the stock market.
The demat accounts are under the control of SEBI i.e. Security and Exchange Board of India Now, from 27 August 2012, SEBI has brought a guideline that every Demat Provider will be provided "Basic Demat Account" to each early person in the stock market so that it can encourage people to invest in the business. It would be helpful to get comprehensive financial inclusion.
So all the investors, who want less business and want to reduce the size of the portfolio, can open a basic service demat account (BSDA) and save on annual maintenance charges.

Where to open a demat account?

You can open your Demat Account or BSDA in any bank like SBI, ICICI, HDFC, Kotak Mahindra and many other banks, or stock broking companies Angel Broking, 5 paisa, Sher Khan etc. Opening of both a demat account and a basic service demat account is free on both banks and broking companies, but then the AMC changes.
These banks and broking companies provide free services for the first year and from the second year they can start charging on the basis of transaction. Therefore, before applying for a BSDA or a demat account, check all the details on that particular bank's website.

How different are the Basic Services Demat Accounts?

Basic Services Demat Account is a Demat Account which can be opened with any of your preferred demat service provider, when your holdings are expected to be less than Rs. 2,00,000 / -.
If we maintain the holdings of the value at least 50,000 / - then no annual maintenance will be taken from our account. If our holdings are between 50,000 to 2,00,000 / - then the annual maintenance is Rs. 100 / - will be charged.
If our holdings exceed 200000 / - then our BSDA account will be converted into a regular Demat Account. This initiative is to encourage retail investment and encourage retail investors to keep securities in demat form.
Services provided for Basic Service Demat Account
Now you should be clear about general demat accounts and BSDA. Generally, Basic Service Demat Account provides all the major facilities included in the General Demat Account. But other, those services, there are some services in BSDA, which are slightly different from the general demat account.

These services are given below:

1) Transaction details:

When your BSDA account is activated and the balance is maintained, you will receive quarterly details of your account transaction details. But if you do not have any transactions in the quarter and you do not have any security then you will not get a transaction report or statement.
Statements are available in two forms, such as electronic and physical documents or hard copies. Electronic statements are free; You will not be charged for this. But if you want a statement in a strict copy, your first two statements will be made available for free and for additional statements you will have to pay the fee which will not exceed Rs. 25.

2) Annual Holding Statement:

An annual holding statement of the account is sent to the registered address of the holding account holder. These documents will be sent in physical or electronic form through e-mail as per the choice of account holder.

3) SMS alerts:

In order to avail the facility of SMS Alerts, the account holder should register his mobile number. Here you will find the SMS for each transaction in your account.

4) Delivery instruction slip (DIS):

Two Delivery Instructions Slips will be made available for free while opening the Basic Services Demat Account.
These are services which are slightly different in the case of general demat account after basic service demat account. If you want to read more about BSDA's services and fees, you can download the circular by SEBI.
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Tuesday 11 September 2018

Google may join hands with Petum Mall for future retail participation

financial ,
Google may join hands with Petum Mall for future retail participation


According to a report by the Economic Times, there is a possibility of investing Rs 3,500-4,000 crore with Google Petmam Mall, a search engine head for a 7-10% stake in Future Retail Limited (FRL).
The objective behind the decision is to combat intense competition with super rich online and offline retailers like Reliance Retail, Amazon and Wal-Mart, who are looking to break the country's growing tilt towards the digital economy. India is expected to start 1 trillion digital economy by 2025.
In the race to acquire stake in FRL, Google-Peti Consortium will have to face strong competition from the huge market online Amazon. The world's largest online retailer recently deposited the term sheet for the similar stake in the FRL.
Earlier, in an interview with publication, Biyani confirmed his intention to sell stake. "After all, it is all that we are all terrible. As the players grow up, you need a coalition," Biyani told ET. He further said, "We can not sell more than 10% and foreign portfolio investor (FPI) is the only route available."
It has been said in the report that with the intention of selling stake in the FRL, there are already meetings with Jeff Bezos of Amazon and the Alibaba officials in China, he said that he would have to close the deal with the foreign investor in the next two months. Are planning
There was no official comment from Google, Alibaba or PettyMey. The report could not independently verify the report.
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Monday 10 September 2018

How to check your bank balance immediately without calling the Internet?

banking ,
How to check your bank balance immediately without calling the Internet?


Everyone wants to check the balance of the bank and wants to keep a track on their bank accounts. Smartphone, internet and bank systems have made this process easy by proving the convenience of checking your bank account online.
But in the case of those who do not have a smart phone or internet connection?
Now you can see some other details of your bank account without the bank's balance and internet.


Type # 1: Missed Call Facility To Know Your Bank's Balance

This is a very simple process by which you can easily check bank balance without internet connection
How does this process work?
As I said earlier, this is a very simple process which will be completed in only 2 steps.
• Dial 10 digit mobile number allocated to your bank (choose from the list below.)
• After 2-3 rings, your call will be disconnected and you will receive a message that will show you the balance of your bank and the mini statement of last 5 transactions.
Or
• If your number is not registered in the bank, you will receive an SMS which will show that your number is not registered with the bank and will also include a way to register your mobile number.
List of banks and 10 digit contact numbers below that you can use to know your bank balance and mini-statement. You can simply save the respective number of your bank in your contact list and you can easily check your balance.

Public sector banks and their contacts for missed call service:

Bank name
Contact number for missed call facility
Allahabad bank
09224150150
Andhra bank
09223011300
Bank of Baroda
09223011311
Bhartiya mahila bank
09212438888
Bank of India
02233598548
Indian bank
09289592895
IDBI bank
18008431122
Canara bank
09289292892
Central bank of India
09222250000
State bank of India
For balance: 09223766666
For mini-statement: 09223866666
Syndicate bank
09664552255
Punjab National bank
18001802222
Union bank of India
09223009292
UCO bank
09278792787
Vijaya bank
18002665555

Private sector banks and their contacts for missed call service:

Bank Name
Contact number for missed call facility
Axis bank
09225892258
Dhanalaxmi bank
08067747700
Kotak mahindra bank
18002740110
HDFC bank
18002703333
ICICI bank
02230256767
Karnataka bank
18004251445
Yes bank
09840909000

Some of the key features of this feature are given below:

1. This feature is totally free for everyone.
2. To avail this facility, your mobile number must be registered with your bank account.
3. If you have more than one account, your newly opened account will be treated as a default account and you will get the details of that account in this facility. Although the default account can be changed.
4. These facilities are the same for all banks. However, the process can be different in some banks.

Type # 2:Learn the balance of your bank account using * 99 #:

Code * 99 # is also called the USSD Code which is not related to any particular mobile network service provider or any bank. This facility is offered by NPCI for providing convenience to common people for easy access to their bank account.
The steps given to check the bank balance using USSD * 99 # are given below:
• Dial * 99 # from your mobile.
• Choose the option of bank balance from the list which will be opened on your screen (which is probably 3 for all users).

• Then enter the name of your bank's 3 letter or the first 4 letters of your IFSC code.

Or
• If you are already registered then it can ask you a PIN.
• Enter 3 letters of the name of your bank (for example, SBN is the 3-name for State Bank of India) or the first 4 letters of your IFSC code (or the UPI PIN).
• Your account balance will be shown on your screen.

* 99 # Basic Features of the Service

This feature is a relief for those who can not access the Internet at all times. This unique code has some basic features that you should know if you are going to use it.
The facility of this USSD code is as follows:
1. This code works without internet.
2. No hidden charges or roaming charges applicable on the use of this code.
3. It works on all types of mobile handsets in all GSM service providers.
4. You can use this code 24/7, including holidays.
5. No need to download any app or activate any service on your mobile phone.

What type of services will you get under * 99 #?

* 99 # is a USSD based mobile banking facility offered by the NSCI, which brings together two diverse ecosystem partners i.e. banks and telecom service providers.
In addition to balance inquiries, this banking system also provides some other facilities that are listed below. Let's look at those features.
• Send money using the beneficiary's IFSC code and bank account number.
• Balance inquiry
• Mini Statement
• Generate or change MPIN or Mobile PIN
• Send money using the beneficiary's base number, which should be linked to his bank account.
• Know your MMID
Send Money using Beneficiary's MMID and Mobile Number
The only difference between these two methods of mobile banking is that, using the missed call service, you can only know your bank balance and mini-statement.
On the other hand if you go for the USSD code service, you can transfer money from your account to another account using your mobile number and MMID or account number and IFSC code or even the base number.
This is an easy way and now you do not have to depend on internet connection using this process, you can get your bank details wherever you can go.
I hope you enjoyed the article. Do you think this feature is useful or not? Leave your opinion in the comments section

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