Snehal khanna Blog

Govt insisted on quoting Aadhaar for bank deposits, obtaining mobile phone and several other utilities to weed out benami deals and black money LATEST NEWS : The government has made biometric identification Aadhaar mandatory for all post office deposits, PPF, the National Savings Certificate scheme and Kisan Vikas Patra. Existing depositors have been given time till December 31, 2017, to provide the 12-digit unique identification number. Ministry of Finance has issued four separate Gazette notifications making Aadhaar mandatory for opening all post office deposit accounts, Public Provident Fund (PPF), National Savings Certificate scheme and Kisan Vikas Patra deposits. "Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application for enrolment for Aadhaar," the notification dated September 29 said. Existing depositors who have not provided Aadhaar number at the time of application for such deposit "sh...

Revised directions are being issued amidst surge in customer grievances, says RBI LATEST NEWS : Customers will not suffer any loss if unauthorised electronic banking transactions are reported within three days and the amount involved will be credited in the accounts concerned within 10-days, the Reserve Bank said on Thursday. In case the third party fraud is reported with a delay of four to seven working days, a customer will face liability of up to Rs 25,000. However, in cases where the loss is due to negligence by the account holder (such as sharing of payment credentials), the customer will bear the entire loss until the unauthorised transaction is reported to the bank. Any loss occurring after reporting of the unauthorised transaction will be borne by the bank, RBI said while issuing revised directions on 'Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions'. RBI said the revised directions are being ...

Furnish Aadhaar no by Dec 31, failing which your account will cease to be operational Latest news :  The government has made quoting of biometric identity number Aadhaar mandatory for opening bank accounts as well as for any financial transaction of Rs 50,000 and above. Existing bank account holders have been asked to furnish their Aadhaar number issued by the Unique Identification Authority of India (UIDAI) by December 31, 2017, failing which, the account will cease to be operational, according to a revenue department notification. The government in Budget 2017 has already mandated seeding of Aadhaar number with Permanent Account Number (PAN) to avoid individuals using multiple PANs to evade taxes. The notification issued amending the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, mandated quoting of Aadhaar along with PAN or Form 60 by individuals, companies, and partnership firms for all financial transactions of Rs 50,000 or above. ...

The charges come with modifications in all types of online transaction modes State Bank of India (SBI) account-holders will have to pay higher service charges than before on online transactions and also for exchanging soiled notes at bank branches from June. While the government is urging citizens to move towards a cashless economy after its mammoth demonetisation drive, the country's largest bank has brought in revised service charges that became effective on Thursday, June 1, 2017. Here are the increased charges you will have to factor in: 1. ATM transactions:  Cash withdrawal from SBI's mobile app, State Bank Buddy, through ATM will now be charged Rs 25 per transaction. No charges will be levied on four ATM transactions in a month. Beyond four transactions, service charges will be levied on Basic Savings Bank Deposit account at Rs 20 plus service tax per transaction on other banks' ATMs and Rs 10 plus service tax per transaction on SBI's own ATM...