Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: empanelment :: TDS :: VAT Audit :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: cpt
 
 
« General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

RBI to launch IT-enabled financial inclusion project
June, 05th 2008

The Reserve Bank of India (RBI) is actively pursuing the implementation of IT-enabled financial inclusion project in Karnataka. The project will facilitate the routing of all state government payments to the beneficiaries of public projects like National Rural Employment Guarantee Project (NREGP) through bank accounts with the use of smart cards and business correspondents in Karnataka.

According to Devaki Muthukrishnan, regional director, RBI, a pilot project is being launched to carry out the project in three districts of Bellary, Chitradurga and Gulbarga. "We are in the advanced stages of finalising the pilot with the lead banks concerned and government of Karnataka. The project will be launched very soon," she said.

Addressing a one-day workshop on the role and responsibilities of non-government organisations as business facilitators and business correspondents, here today, she said the banking community has successfully completed the first phase of financial inclusion. This involved opening of no frills' accounts for every household in all 29 districts.

The opening of accounts in the Bangalore Metro has also been completed. The first phase of financial inclusion in the state has witnessed the opening of 3 million bank accounts.

"The banks need to redesign their business strategies to incorporate specific plans to promote financial inclusion of "bottom of the pyramid" group treating it both as a business opportunity as well as a corporate social responsibility. They have to make use of information technology-based solutions like smart cards extensively to facilitate offsite banking," she said.

Muthukrishnan said banks need to use business correspondents and business facilitators' models for enhancing capacities of existing branches for increasing outreach with proper care. They need to replicate the model of micro-credit delivery to farmers and artisans through NGOs, self help groups and farmers' clubs selectively.

"Financial inclusion can emerge as a commercially profitable business and can lift the financial condition and standards of life of the poor and the disadvantaged. The bankers, technology providers, NGOs, micro-finance institutions have a small but significant role to play in this unfolding of future story of economic growth and distribution and we shall strive to achieve the set goals," she added.

N K Thingalaya, former chairman of Syndicate Bank, Mahpara Ali, Chief General Manager, State Bank of India were present on the occasion. The workshop was organised by Initiatives for Development Foundation.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions