Credit line through UPI: New facility from SCB
Under this facility, payments through a pre-sanctioned credit line issued by a Scheduled Commercial Bank to individuals, with prior consent of the individual customer, are enabled for transactions using the UPI System. Banks may, as per their Board approved policy, stipulate terms and conditions of use of such credit lines. The terms may include, among other items, credit limit, period of credit, rate of interest, etc.
New software for enhancing finance for farmers
Computerization of PACS project aims to provide a comprehensive ERP solution for entailing more than 25 economic activities prescribed under the Model Bye-Laws for PACS covering various modules such as financial services for short, medium & long term loans, procurement operations, Public Distribution Shops (PDS) operations, business planning, warehousing, merchandising, borrowings, asset management, human resource management, etc.
Banks to remain open on financial year end
Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2025 (Monday).
Bank account for every household: Financial Inclusion scheme
The Government initiated the National Mission for Financial Inclusion (NMFI), namely the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August, 2014 to provide universal banking services for every unbanked household based on the guiding principles of banking the unbanked, securing the unsecured, funding the unfunded and serving unserved and underserved areas, with a strong focus on women. NMFI has also facilitated the coverage of women with various social security and credit linked Schemes.
RBI reviews global and domestic economic situation
The Board reviewed the global and domestic economic situation and outlook, including the challenges posed by geopolitical developments and global financial market volatility.
NATS 1.0 Portal Reopens for Final Completion of Pending Task
The NATS 1.0 portal reopens until March 31, 2025, allowing establishments and apprentices to complete pending tasks before its permanent shutdown.
Delhi Enforces New Rules to Curb Unregulated Deposit Schemes
Delhi’s new rules under the Banning of Unregulated Deposit Schemes Act strengthen investigations, asset recovery, and protect legitimate financial activities.
PFRDA Seeks Public Feedback on Unified Pension Scheme Draft
PFRDA invites public comments on the draft Unified Pension Scheme regulations for Central Government employees until February 17 2025 to enhance pension benefit
Delhi Employers Must Grant Paid Holiday for 2025 Elections
The Election Commission mandates a paid holiday for all employees in Delhi on February 5, 2025, ensuring workers can vote in the Legislative Assembly elections.
₹2000 to be withdrawn: Final Opportunity for exchange
The facility for exchange of the ₹2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices)1 since May 19, 2023. From October 09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts. Further, members of the public are sending ₹2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts.
