India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi, Jul 8: The Department of Financial Services (DFS) has clarified that it has not directed banks to close inactive Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, countering recent media reports suggesting otherwise. DFS has launched a nationwide three-month campaign from July 1 to promote greater use of Jan Dhan accounts and other welfare schemes such as Jeevan Jyoti Bima Yojana and Atal Pension Yojana. As part of the campaign, banks will also update Know Your Customer (KYC) details for accounts where required.
Lucknow: To take financial inclusion to the grassroots, the state govt will launch a special campaign from July 1, under which eligible persons at the gram panchayat level will be linked with central schemes like Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana.The three-month drive aims to ensure last-mile delivery of key financial services to eligible citizens. It is being launched under the directive of the department of financial services, Union finance ministry and its primary objective is to ensure 100% c ...Read More >
New Delhi, July 7 (SocialNews.XYZ) Fintech companies should leverage their strengths and innovation by not only extending financial services to the masses but also to develop robust solutions against fraud, hacking, and other cyber threats -- making greater use of emerging technologies like artificial intelligence (AI), a top government official said on Monday. With the country's digital payments ecosystem rapidly maturing, its influence has begun to extend beyond national borders, reaching Global South, said Nagaraju Maddirala, Secretary, Department of Financial Services (DFS). Addressing t ...Read More >
Pension fund regulator PFRDA has launched the second proof of concept (POC) of 'NPS Swasthya', an initiative aimed at integrating retirement planning with healthcare funding, PTI reported.The Pension Fund Regulatory and Development Authority (PFRDA) said the National Pension System (NPS) Swasthya is a multi-partner framework designed to provide financial and health security.Under the initiative, Medi Assist Healthcare Services will act as the core technology partner, CAMS KRA will handle onboardi ...Read More >
New Delhi: Boasting of digital growth in India's largest public sector bank State Bank of India (SBI), Union finance minister on Tuesday said that digital transformation undertaken by SBI in the last decade has been immensely beneficial to its customers. Congratulating SBI on completing 70 years of service to the nation, she expressed hope that the bank will continue to innovate and empower as India continues its journey towards 'Viksit Bharat' by 2047. "With over 23,000 branches, 78,000 customer service points (CSPs) and 64,000 ATMs, SBI's footprint today is formidable and it is truly the ba ...Read More >
M Nagaraju asked fintechs to prioritize offline payment options. This push aims to boost financial inclusion across India. He spoke at the CII Summit on Financial Inclusion and FinTech. Nagaraju highlighted financial inclusion's role in economic growth. He noted India's progress since 2014 with the Pradhan Mantri Jan Dhan Yojana. The scheme significantly increased bank account access for adults. DFS Secretary M Nagaraju on Monday urged fintechs to focus on driving offline payment solutions to en ...Read More >
Chennai, Jul 12 (PTI) Public sector Indian Overseas Bank must have a Vision for 2047 aligning with India's growth aspirations, M Nagaraju, Secretary, Department of Financial Services, Union Ministry of Finance, said. He urged the city-headquartered bank to continue serving the evolving needs of its customers with 'innovation and integrity.' Launching some of the key banking services at an event on Friday evening in the presence of the bank's Managing Director and CEO Ajay Kumar Srivastava, Nagaraju said the introduction of WhatsApp based banking services and Re-KYC (Know Your Customer) throug ...Read More >
New Delhi, Aug 28 (SocialNews.XYZ) Union Home Minister Amit Shah on Thursday hailed the socio-economic gains from the Pradhan Mantri Jan Dhan Yojana (PMJDY), crediting Prime Minister Narendra Modi for conceiving the world's largest banking initiative in history. "Exactly 11 years ago today, for the financial inclusion of the poor, women, farmers, and deprived sections, Modi ji launched the world's largest banking initiative in history, the 'Pradhan Mantri Jan Dhan Yojana'," said HM Shah on the anniversary of the scheme. He said, in a post on X, "Through #11YearsOfJanDhan, a historic effort w ...Read More >
Bhubaneswar (Odisha) [India], October 19 (ANI): The Odisha government has announced that all Registrar and Sub-Registrar offices across the state will remain closed on Monday after declaring October 20 an additional holiday, as Diwali falls on that day. All government offices and magisterial courts, except those in Nuapada district, will remain closed. In lieu of this, the fourth Saturday (October 25) has been declared a working day. According to an official notification issued by the Department of Revenue and Disaster Management on Friday, "In continuation of the Department's earlier Notifi ...Read More >
New Delhi [India], March 30 (ANI): Based on the data uploaded by banks on the Jan Dhan Darshak (JDD) App, almost 100 per cent of villages in the country are covered with banking outlets, informed the Finance Ministry. "99.92% villages in the country and 100% villages in the UT of Dadra and Nagar Haveli are covered with banking outlets (Bank Branch / BC / IPPB) within a radius of 05 kms (as on 06.03.2026)," according to a statement released by the Ministry of Finance. Also Read | 'King': Shah Rukh Khan's Action Thriller Cancels Dubai Shoot Amid West Asia Tensions - Here's What We Know. The G ...Read More >
Lucknow, June 27 (UNI): Aiming to take financial inclusion to the grassroots, the Uttar Pradesh government is set to launch a special saturation campaign across all gram panchayats in the state. Scheduled to run from July 1 to September 30, the initiative aims to ensure last-mile delivery of key financial services to eligible citizens. Launched under the directives of the Centre's Department of Financial Services, Ministry of Finance, , the campaign will focus on extending the benefits of flagship Central schemes such as the Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti ...Read More >
Gurgaon: MCG additional commissioner Yash Jaluka directed bulk waste generators (BWG) across the city to ensure proper disposal of waste by private agencies who are assisting them. Giving these instructions in a meeting held on Friday, he said it is often observed that BWGs hand over their waste to private agencies, which only sort valuable items and dump the remaining waste on roads, drains, vacant land or public places. This, he said, not only affects cleanliness of the city but also poses a threat to public health."Under the Solid Waste Management Rules-2016, it is the legal and moral respo ...Read More >
New Delhi [India], July 8 (ANI): The Finance Ministry on Tuesday stated that the Department of Financial Services has not asked banks to close inactive PM Jan Dhan Yojana accounts. The Finance Ministry stated in a release that DFS has launched a nationwide three-month campaign, starting from July 1, to deepen the adoption of Jan Dhan Yojana accounts, Jeevan Jyoti Bima Yojana, Atal Pension Yojana, and other welfare schemes. Banks will also carry out re- KYC of all due accounts during this campaign. 'In connection with reports appearing in media that Department of Financial Services has asked ...Read More >
New Delhi, Dec 12 (PTI) Gross non-performing assets (NPAs) of public sector banks (PSBs) have declined to a decade low of 3.12 per cent at the end of September 2024 from a peak of 14.98 per cent in March 2018 on the back of measures like the 4Rs -- recognition, recapitalisation, resolution, and reform -- taken by the government, the finance ministry said on Thursday. Since 2015, the government implemented a comprehensive 4Rs strategy of recognising NPAs transparently, resolution and recovery, recapitalising PSBs, and reforms in the financial system to address the challenges faced by PSBs, it ...Read More >
New Delhi: The second match of the five-match Test series between India and England will be played at Edgbaston in Birmingham. It will start on July 2. In this Test, Shubman Gill has a chance to create history. Actually, the Indian team has not been able to win on this ground so far. Team India played the first match on this ground in 1967. Be it Virat Kohli or Dhoni or Dravid or Sourav Ganguly, no Indian captain has won here in 58 years. However, Gill will have a chance to get his name registered in the history books. If he manages to end the drought of 58 years, he will become the first Indi ...Read More >
Nandyal: District Collector G Raja Kumari has directed officials to actively conduct the Grama Sthayi Jan Suraksha campaign across the district from July 1 to September 30, with a focus on creating wide-scale awareness about Central Government insurance schemes. Addressing officials during a public grievances redressal platform held at the PGRS Hall in the Collectorate on Monday, the Collector stressed the need for intensified outreach at the village level to ensure maximum public participation in these welfare initiatives. Participating in an awareness programme held after the grievance ses ...Read More >
New Delhi, Dec 12 (SocialNews.XYZ) The gross non-performing asset (NPA) ratio of public sector banks (PSBs) declined to 3.12 per cent in September this year, from 4.97 per cent in March 2015 and from a peak of 14.58 per cent in March 2018, the Centre informed on Thursday. The Ministry of Finance said in a statement that public sector banks (PSUs) recorded the highest ever aggregate net profit of Rs 1.41 lakh crore during FY2023-24, against net profit of Rs 1.05 lakh crore in FY2022-23, and recorded Rs 0.86 lakh crore in the first half of FY2024-25. "Gross advance of scheduled commercial bank ...Read More >
New Delhi, Jul 15 (PTI) About 1.4 lakh new Jan Dhan accounts have been opened in the past fortnight under the nationwide financial inclusion saturation campaign, the finance ministry said on Tuesday. The Department of Financial Services (DFS), under the finance ministry, has launched a three-month nationwide saturation campaign, effective from July 1 to September 30, 2025, to bolster the outreach of flagship schemes, such as Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY), an o ...Read More >
New Delhi, Jul 15 (PTI) About 1.4 lakh new Jan Dhan accounts have been opened in the past fortnight under the nationwide financial inclusion saturation campaign, the finance ministry said on Tuesday. The Department of Financial Services (DFS), under the finance ministry, has launched a three-month nationwide saturation campaign, effective from July 1 to September 30, 2025, to bolster the outreach of flagship schemes, such as Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY), an o ...Read More >
Bhubaneswar (Odisha) [India], October 19 (ANI): The Odisha government has announced that all Registrar and Sub-Registrar offices across the state will remain closed on Monday after declaring October 20 an additional holiday, as Diwali falls on that day. All government offices and magisterial courts, except those in Nuapada district, will remain closed. In lieu of this, the fourth Saturday (October 25) has been declared a working day. Also Read | Raju Bista's Convoy Attacked by Miscreants in West Bengal, BJP Darjeeling MP Says 'Timing of Attack Is Highly Suspicious and Points to Conspiracy To ...Read More >
Bengaluru, Apr 8 (PTI) Pension fund regulator PFRDA has launched the second "Proof of Concept (POC) of NPS Swasthya", an initiative intended to provide healthcare funding along with retirement planning. According to a statement, PFRDA said the National Pension System (NPS) Swasthya is a multi-partner initiative structured to provide comprehensive financial and health security. The Pension Fund Regulatory and Development Authority (PFRDA) serves as the regulatory authority. The Medi Assist Healthcare Services acts as the core technology partner, providing digital infrastructure whereas CAMS K ...Read More >
New Delhi, December 15: More than 21 crore people have benefited under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme that provides life insurance coverage, said the Ministry of Finance. The PMJJBY, launched in May 2015 is a term life insurance plan. Under this scheme, in case of death due to any reason, the family of the insured gets Rs 2 lakh. "Pradhan Mantri Jeevan Jyoti Bima Yojana #PMJJBY has provided Rs 2 lakh life insurance coverage to over 21 crore beneficiaries, ensuring financial security for families in times of uncertainty," the Ministry said in a post on social media ...Read More >
New Delhi, Jun 26 (PTI) Amid rate moderation by the Reserve Bank, Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on Friday for review their financial performance and progress of various government flagship schemes. According to sources, the finance minister may exhort them to increase credit flow towards productive sectors of the economy. This is going to be the first review meeting after the Reserve Bank earlier this month carried out a jumbo policy rate cut of 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make av ...Read More >
New Delhi: Union finance minister Nirmala Sitharaman on Friday asked public sector banks (PSBs) should maintain profitability momentum in FY26 and take advantage of Reserve Bank of India's 50-basis points rate cut to increase lending toward productive sectors of the economy, according to the sources. The finance minister's statement came after chairing a meeting with the heads of PSBs to review financial performance of banks. Sitharaman also emphasised that banks should also onboard more customers on government's schemes in a bid to increase financial inclusion. "The finance minister expecte ...Read More >
New Delhi [India], March 30 (ANI): Based on the data uploaded by banks on the Jan Dhan Darshak (JDD) App, almost 100 per cent of villages in the country are covered with banking outlets, informed the Finance Ministry. "99.92% villages in the country and 100% villages in the UT of Dadra and Nagar Haveli are covered with banking outlets (Bank Branch / BC / IPPB) within a radius of 05 kms (as on 06.03.2026)," according to a statement released by the Ministry of Finance. The Government endeavours t ...Read More >
Mumbai: Public sector banks (PSBs) are in talks with the Finance Ministry to review the rule of maintaining a minimum balance in savings accounts. According to a report by Times of India, this discussion is taking place due to the declining share of CASA (Current Account Savings Account) deposits in banks' total deposits. The report states that the share of CASA deposits is shrinking, and during a recent meeting with the finance ministry, government officials raised a question: Why should customers be penalised for not maintaining a minimum balance, especially when CASA deposits are falling? ...Read More >
New Delhi [India], July 8 (ANI): The Finance Ministry on Tuesday stated that the Department of Financial Services has not asked banks to close inactive PM Jan Dhan Yojana accounts. The Finance Ministry stated in a release that DFS has launched a nationwide three-month campaign, starting from July 1, to deepen the adoption of Jan Dhan Yojana accounts, Jeevan Jyoti Bima Yojana, Atal Pension Yojana, and other welfare schemes. Banks will also carry out re- KYC of all due accounts during this campaign. In connection with reports appearing in media that Department of Financial Services has asked ...Read More >
New Delhi [India], September 26 : Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, emphasized that India is ... New Delhi [India], September 26 : Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, emphasized that India is well-positioned to withstand global economic shifts. "Amidst global uncertainty, India's resilience is remarkable. With strong macroeconomic fundamentals, a young demographic profile, and increased reliance on domestic demand, India is well-positioned to withstand global shocks and maintain a high-growth trajectory," the Finance Minist ...Read More >
Over 54 crore accounts have been opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) as of November 20, 2024. However, 11.30 crore accounts, holding Rs 14,750 crore, are currently inoperative. Public sector banks have seen a decline in inoperative account percentages. Efforts are underway to reduce these numbers and simplify account reactivation.A total of 54.03 crore accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY), of which 11.30 crore accounts are inoperative, Parliam ...Read More >
New Delhi [India], March 30 (ANI): Based on the data uploaded by banks on the Jan Dhan Darshak (JDD) App, almost 100 per cent of villages in the country are covered with banking outlets, informed the Finance Ministry. "99.92% villages in the country and 100% villages in the UT of Dadra and Nagar Haveli are covered with banking outlets (Bank Branch / BC / IPPB) within a radius of 05 kms (as on 06.03.2026)," according to a statement released by the Ministry of Finance. The Government endeavours to ensure availability of banking outlet (Bank branch / Business Correspondent (BC) / India Post Pay ...Read More >
Hyderabad: The legacy of Sardar Hari Singh Nalwa, who once stopped the Afghan forces at the Khyber Pass, is not merely history but a living inheritance, said Dr A. Tajinder Pal Singh Nalwa, his descendant. "If we could protect India from invasions then, we must now protect our children's minds from disintegration." Dr Nalwa was speaking to Sikh educators, community members, students, and lawyers at a seminar hosted by the Sikh Education Society at Guru Nanak High School Lecture Hall. Presided over by former DGP Tejdeep Kaur Menon, president of the Telangana Sikh Society, the seminar focused ...Read More >