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 New Delhi: The central government is planning to launch a 'Grameen Credit Score' system within six months to increase credit to farmers, self-employed persons and self-help groups, according to reports. 'Grameen Credit Score   What are the objectives of Grameen model? The government is working with public sector banks and the Indian Banks' Association (IBA) to develop a framework for this.   Similar to the model for MSMEs, rural borrowers are said to be assessed on the basis of digital transaction data, government subsidy receipts and UPI functionality.    This data-driven rating system will help banks tailor loans to rural areas. This will make it easier for entrepreneurs and small businesses to get loans. Industry experts say that this initiative will significantly increase the provision of loans to self-help groups based on the rating. The creditworthiness of rural borrowers will be assessed based on digital transaction data, government subsidy receipts a...

When the British ruled India, they took away assets worth 5,500 lakh crore rupees from 5,500 countries between 1765 and 1900, according to a report released by the human rights organization Oxfam International. How much did Britain take from India The annual meeting of the ' World Economic Forum ', one of the world's economic organizations, has begun. Before the start of the first day of the meeting, Oxfam published a report titled 'Takers, Not Makers', stating: The legacy of colonial rule, which began in the early 1900s, continues to affect people in modern times. The countries of the Global South, known as the Global South, were systematically exploited by the North. Based on history, various studies, research articles, and documents, the value of the assets exploited by Britain from India between 1765 and 1900 exceeds 5,500 lakh crore rupees. Of this, 10 percent was captured by the richest 10 percent of Britain. If the British currency, the 50 pound note, were sp...

For central government insurance schemes, some banks withdraw money from customers' accounts without their permission; After that there are allegations of obtaining fake approval. Insurance schemes The list of insurance schemes includes the 'Pradham Mantri Jeevan Jyoti Bhima Yojana' and the accident insurance scheme 'Pradham Mantri Suraksha Bhima Yojana'. Similar complaints have been raised against the central government's pension scheme 'Atal Pension'. All these schemes were launched by Prime Minister Narendra Modi in May 2015 to provide financial security to the poor. The premium for these plans is very low. In Pradham Mantri Jeevan Jyoti Bhima Yojana, the annual premium is Rs 436. The premium in Pradham Mantri Suraksha Bhima Yojana is just Rs 20. As per Jeevan Jyoti Scheme, Rs 2 lakh is paid to the nominee in case of death of policyholder due to any reason. In case of death due to accident, under Suraksha Bhima scheme Rs 2 lakh an...

Determining ownership and access to funds in a long-dormant bank account depends on several factors, including: Bank account customer  Bank Account Regulation Who owns the money in the bank account.. Important thing you need to know. Who owns the money in the bank account.. Important rule you need to know..! Who owns the money in a long-dormant bank account? Can it be taken again? The Reserve  Bank of India has formulated certain norms for the operation of all bank accounts. Bank account deposits and withdrawals are done according to those rules. Unclaimed amount. If the bank account holder does not make any transaction from his account for 10 years then the amount deposited in his account will be considered as unclaimed. This money will then be transferred to the education and awareness fund. Inactive account. If one does not make any transaction ...

Punjab National Bank's net profit for the second quarter of the current financial year (July to September 2023) is Rs 1,756.13 crore. This is a significant increase from the net profit of Rs 411.3 crore reported in the same quarter of the previous financial year. PNB net profit this year  A statement issued by the bank said Public sector laggard Punjab National Bank (PNB) reported a 4-fold increase in net profit in the September quarter. The bank reported a net profit of Rs 1,756.13 crore in the 2nd quarter of the current financial year from last July to September. This is about 4 times more than the same quarter of the previous financial year 2022-23. At that time the net profit of the bank was Rs.411.27 crore. The increase in interest income in the September quarter due to higher interest rates contributed to this net profit growth. Interest income of the bank increased by 31 per cent to Rs 26,355 crore during the assessment quarter. It was Rs 20,154 crore a year ago...

There is a plan to change the banking week in India to only 5 days. The Indian Banks' Association (IBA) has proposed that all Saturdays be declared as holidays for banks, with the daily working hours being increased by 45 minutes. This proposal has been approved by the finance ministry, and is now awaiting the final approval of the government. Bank holidays Saturday What is the 5 day banking proposal The move to a 5-day work week for banks is in line with the government's policy of promoting digitization and reducing the need for people to visit bank branches in person. With more and more people using online banking and mobile banking, there is less need for banks to be open on Saturdays. The 5-day work week for banks is also expected to benefit bank employees, who will get an additional day off each week. This will give them more time to spend with their families and pursue other interests. The implementation of a 5-day work week for banks is likely to take place...