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Deposits in Jan Dhan accounts cross Rs 80,000 crore

Deposits in Jan Dhan accounts cross Rs 80,000 crore

Finance
NEW DELHI: Total deposits in Jan Dhan accounts crossed Rs 80,000 crore mark with more people joining the flagship financial inclusion programme, according to official data. The deposits, which have been steadily rising since March 2017, were at Rs 80,545.70 crore on April 11, 2018, said a finance ministry data. Pradhan Mantri Jan-Dhan Yojana (PMJDY) accounts had come into focus during the demonetisation period when the deposits witnessed a meteoric rise. The latest report of the World Bank titled Global Findex Report, 2017 released last week cited the success of the Jan Dhan Yojana. India's financial inclusion efforts have won recognition from the World Bank as their data indicate that 55 per cent of new bank accounts opened are from India, Financial Services Secretary Rajiv Kumar had said...
Wetherspoon shuts down social media accounts

Wetherspoon shuts down social media accounts

Business
Pub chain JD Wetherspoon says it is closing down all its social media accounts following the "trolling" of MPs and ethnic minorities.The Twitter, Instagram and Facebook accounts for all 900 pubs and head office are shutting down with immediate effect, the pub operator said.The move also takes account of recent concerns over the misuse of personal data and the addictive nature of social media.A spokesman for the chain told Sky News: "We've noticed a lot of MPs get trolled and some receive some nasty comments and the company doesn't like what's going on - we don't like the general climate of social media."The spokesman confirmed the decision was not related to any specific incident and no JD Wetherspoon account itself was involved in the trolling of any MPs or ethnic or religious minorities....
Twitter bans 270,000 terrorist accounts

Twitter bans 270,000 terrorist accounts

Technology
Twitter has announced that it banned 274,460 accounts for promoting terrorism over the last six months of 2017.The number of bans reported in the twice yearly transparency report marks a 8.4% decrease on the six months previous as part of what Twitter celebrated as "the positive, significant impact of years of hard work".As with its report last year, the majority of these accounts (93%) were automatically removed by the social media company's internal tools, and 74% were suspended before their first tweet."Government reports of violations related to the promotion of terrorism represent less than 0.2% of all suspensions in the most recent reporting period," Twitter claimed - reflecting a 50% reduction in reports compared to the previous six months.:: Are tech firms doing enough on terror?Vi...
Govt amends PMLA rules to extend Aadhaar linking date for all financial accounts till after SC order

Govt amends PMLA rules to extend Aadhaar linking date for all financial accounts till after SC order

Finance
The finance ministry has amended the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, via a issued notification yesterday, extending the date for submitting Aadhaar by existing account holders to financial entities till a date to be notified after the final judgement in the petition challenging Aadhaar pending before the Supreme Court. This follows the interim order, dated 13th March, 2018 of the SC in the Aadhaar case, which extended the last date for linking Aadhaar with existing bank accounts from 31.03.2018 till the final judgement of the case. As per the existing rules relating to the Prevention of Money Laundering Act, account holders had to submit to specified financial entities their Aadhaar number by March 31, 2018. This essentially implies that submission of A...
Top banks suspend accounts of major Bitcoin exchanges in India

Top banks suspend accounts of major Bitcoin exchanges in India

Finance
MUMBAI: Top lenders including State Bank of India, Axis Bank, HDFC Bank, ICICI Bank and Yes Bank have suspended some accounts of major Bitcoin exchanges in India, suspecting dubious transactions, three people aware of the development said. The banks have also sought additional collateral from the promoters of these exchanges on their borrowings and have capped cash withdrawals from the few accounts that are still operational. "Since last month, banks have been asking for additional collateral with 1:1ratio," a person with knowledge of the matter said. The banks are scrutinising current accounts held by top Bitcoin exchanges, a second person said. Action has been initiated against the top 10 Bitcoin exchanges including Zebpay, Unocoin, CoinSecure and BtcxIndia, said four people aw...