Petrol Pumps may Shut on Sundays From May 14

Petrol Pumps may Shut on Sundays From May 14

The Consortium of Indian Petroleum Dealers have decided to shut Petrol pumps in eight states on every Sunday for 24 hours, starting May 14, 2017. The eight states are Haryana, Maharastra, Tamil Nadu, Kerala, Karnataka, Puducherry, Telengana and Andhra Pradesh. Although there is provision for providing fuel for emergencies services such as ambulances. All India …

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BHIM Aadhaar Pay

BHIM Aadhaar Pay

  Prime Minister Narender Modi Launched BHIM(Bharat Interface for Money) Aadhaar Pay on eve of Ambedkar Jayanti in Nagpur. It is a biometric based payment system which enable us to make payment with help of thump impression. This will be a major step towards cashless economy. Customers need not to have smartphone or debit and …

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SBI Hike Minimum Balance for Savings Account

SBI Hike Minimum Balance for Savings Account

India’s largest bank, State Bank of India(SBI) hiked monthly average balnce(MAB) for its saving account holders beside increase in charges for its other services. SBI has 31 crore savings bank accounts. MAB will not be applicable for Jan Dhan accounts. SBI has 11 crore Jan Dhan Accounts. SBI suspended this charge in July 2012 to …

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RERA: Real Estate Act to Become Fully Effective From 1 May 2017

RERA: Real Estate Act to Become Fully Effective From 1 May 2017

To regulate real estate sector Real Estate Regulatory Authority(RERA) Bill has been approved. It will bring more transparency in the system and will safeguard the interest of buyers of residential and commercial properties. Each state and union territory need to set up Regulatory Authorities. In addition to other responsibility, it will also maintain website with …

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Petrol and Diesel Prices To Change Daily

Petrol and Diesel Prices To Change Daily

Petrol and Disesl prices will change daily starting May 1, 2017 on the basis of oil price change in international market. In most advanced markets petrol and diesel prices change daily, this will happen in India too. Currently prices are revised on 1st and 16th of every month with respect to average international price and …

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State Bank Of India Merger With 5 Associate Banks and BMB

State Bank Of India Merger With 5 Associate Banks and BMB

State Bank of India will merge with five associate banks on 1st April 2017. The five associate banks are State Bank of Bikaner and Jaipur(SBBJ) State Bank of Mysore(SBM) State Bank of Travancore(SBT) State Bank of Hydrabad(SBT) State Bank of Patiala(SBT) After merger SBI will be among top 50 banks of world. These consolidation of …

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Small Finance Banks in India

Small Finance Banks in India

Small Finance Banks have been set up to provide financial inclusion to those people or businesses who have not been served by other banks such micro and small industries, small farmers and other unorganized sector entities. These banks need to provide 75% of their lending to priority sector which includes agriculture and small businesses. At …

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Goods and Service Tax(GST) in India

Goods and Service Tax(GST) in India

Goods and Service Tax(GST), the biggest reform in India’s indirect taxation system is likely to become a reality very soon after facing a lot of hurdles. As of now, GST deadline have been deferred to July 1, 2017. In full non-GST, there is cascading burdon of tax on tax which can be avoided using GST. …

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Reliance Jio Hits 100 Million Subscribers

Reliance Jio Hits 100 Million Subscribers

Reliance Jio hits 100 million subscribers mark in just 170 days. Jio will start charging customers in April 2017 but voice calls to any network will always remain free. Reliance Jio set the target to acquire 100 million customers in shortest possible time on its 4G network and it created a new world record in …

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Payment Banks in India

Payment Banks in India

A Payment bank is similar to any other bank but it operate on a smaller scale.The main purpose of payment bank is to provide financial services to everyone particularly remote areas of country, small businesses and low incomes households. Payment banks must have at least 25% of its branches in unbanked rural areas. In August …

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