In March 2020, these states had an asset base of Rs 16,446 crore as compared to Rs 40,324 crore in March this year
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Airtel Payments Bank is dominant in rural markets, he said, adding that "rural and urban combined, we are now opening a million bank accounts a month"
Going ahead, a customer can take a wad of notes to a CRM and use UPI to activate the process of depositing it rather than insert their debit card into the slot
The revamped scheme also introduces more flexible financing options, emphasising subsidies on reimbursement basis, over traditional credit-linked approach
Some arrangements between card networks and issuers are 'not conducive' for customers, it says
Per capita investment is less than Rs 10,000 in eight of them
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Addressing an audience of the officials and employees of the bank, the Minister at the very outset, congratulated Federal Bank for an all-time high share price
The objective is to build a public infrastructure for credit-related information and the right information can be made available by the NFIR to lending agencies
Women entrepreneurs and leaders highlight key areas, including healthcare, maternity benefits, education, and skill training, where more inclusive policies could be drafted in Budget 2024
Designing financial services for women makes good business sense. Women have lower defaults, tend to save more and make timely repayments compared to men
The minister said there are 32 bank branches and 36 ATMs in Sikkim per one lakh population in comparison to the national average of 14
He said that lenders need to go beyond mere compliance and must imbue the organisation's practices with sustainable finance principles in order to foster a culture of financial inclusion
She also said when the scheme was launched, a certain section of people had made "snide" remarks saying public sector banks would be under pressure as these are zero balance accounts
The FI Index was introduced in 2021 to capture the extent of financial inclusion throughout the country
Payment solutions will allow transactions when connectivity is poor or if there is a systems breakdown
The four 'Is' are infrastructure, investment, innovation and inclusiveness
He further urged banks to devise the strategy and step up efforts to increase the digital onboarding of street vendors and scale up their digital payments, the finance ministry said