Cash Transfers

Assembly results may spur demand for bigger cash transfer scheme for women

For those in the government committed to the idea of fiscal prudence, the challenges have got a little more difficult

Biz of moving currency booming, with new revenue streams set to open up

Millions of rural Indians now have debit cards, yet lack access to ATMs. Such drivers are expected to contribute to the growth of ATMs in the rural regions

India's deployment of cash transfer scheme a logical marvel: IMF

India's deployment of a direct cash transfer scheme and other similar social welfare programmes is a logical marvel, the International Monetary Fund (IMF) said on Wednesday. From India, there is a lot to learn. There is a lot to learn from some other examples around the world. We have examples from pretty much every continent and every level of income. If I look at the case of India, it is actually quite impressive, Paolo Mauro, Deputy Director of the Fiscal Affairs Department at the IMF, told reporters at a news conference here. In fact, just because of the sheer size of the country, it is a logical marvel how these programmes that seek to help people who are at low-income levels reach literally hundreds of millions of people, he said in response to a question on the impressive direct cash transfer programme being successfully implemented by the Indian government. There are programmes that target specifically women. There are programmes that target the elderly and farmers. Perhaps

What is RTGS funds transfer system?

Real Time Gross Settlement or RTGS system has cut short the risk to high-value payment settlements among financial institutions. It is used by central banks worldwide. Find out more about the system

What is IMPS?

Swift transfer of money between bank accounts has made all types of transactions smooth. Through IMPS, we can now transfer money within seconds. Let's get some clarity about this efficient platform

EPFO launches facility for bulk transfer of funds from exempted trusts

Retirement fund body EPFO has launched a facility for bulk transfer of funds from exempted establishments through a single payment. Exempted establishments are those which have been granted exemption under Section 17 of EPF & MP Act, 1952 and manage the provident fund of members themselves under overall supervision of the Employees' Provident Fund Organisation (EPFO). "Apurva Chandra, Secretary (Labour & Employment) launched a new facility of bulk transfer of funds and data from exempted trusts to EPFO through a single payment, during his first visit to EPFO headquarters, on 7th October, 2020," a labour ministry statement said. EPFO has now released the functionality for bulk transfer of funds from exempted establishments to EPFO through a single payment. This facility will enhance ease of doing business by increasing the speed of funds transfer for exempted establishments. On change of employment of a member from exempted to unexempted establishment, his past accumulations ...

Woman member of poor family will get Rs 830 each month: Assam govt

The Assam government on Wednesday announced that a minimum sum of Rs 830 per month would be deposited in the bank account

Centre considering extending cash support schemes for poor beyond June

These include cash assistance of Rs 500 per month given to 200 million women with Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts

Covid-19: UP transfers cash to bank accounts of 2.3 million poor

State identifying more beneficiaries for the Rs 1,000 relief

As migrants grow restless in lockdown, govt weighs cash transfer option

State governments told to expedite data collection of migrant labour

Govt evaluating cash transfer scheme to reduce coronavirus impact

Given the nature of cash transfer plans, the govt would need large revenues and may have turn a blind eye to the fiscal deficit

Banks may seek consent before allowing transfer of funds to your account

The move is a follow-up to instances of illicit deposits - after demonetisaton - in bank accounts opened under the Pradhan Mantri Jan-Dhan Yojana

Cash transfers may not suit all beneficiaries: Report

Economists Maitreesh Ghatak of London School of Economics, Chinmaya Kumar and Sandip Mitra studied Bihar's Mukhyamantri Cycle Yojana