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Tag: accounts

Deposits in Jan Dhan accounts cross Rs 1 lakh crore

Deposits in Jan Dhan accounts cross Rs 1 lakh crore

Finance
Deposits in bank accounts opened under Jan Dhan scheme, launched about five years ago by the Modi-government, have crossed the Rs 1 lakh crore mark. As per the latest finance ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was at Rs 1,00,495.94 crore as on July 3. The deposits in the account of the beneficiaries, which has been steadily rising, was Rs 99,649.84 crore on June 6 and Rs 99,232.71 crore in the week before. The PMJDY was launched on August 28, 2014, with an aim to provide universal access to banking facilities to the people in the country. Accounts opened under PMJDY are Basic Savings Bank Deposit (BSBD) accounts with additional feature of RuPay debit card and overdraft. The finance ministry had recently said in the Rajya...
I-T department to share details of assets, accounts of loan defaulters with banks: CBDT

I-T department to share details of assets, accounts of loan defaulters with banks: CBDT

Finance
Income tax authorities will share details of assets of borrowers and their guarantors with public sector banks in case of loan defaults. The move is aimed at preventing promoters from siphoning off assets that are not disclosed to banks and comes close on the heels of the income tax department and goods and services tax authorities deciding to share details about taxpayers and defaulters with each other. Decision to share details to banks comes in the backdrop of borrowers not disclosing complete assets to lenders to safeguard them being party of any recovery proceedings But, banks will also have to do their bit for the department. Banks will need to furnish no objection certificate from jurisdictional Commissioner of the loan defaulter before appropriation of the surplus amount recovered ...

Facebook says it removed fake accounts in Philippines

Technology
Facebook says it has removed 200 pages, groups and accounts linked to Nic Gabunada, reportedly the former social media manager of Philippine President Rodrigo Duterte, for misleading people. The social network says it took down the accounts for "coordinated inauthentic behavior," the term it uses to describe accounts that work together to mask who is behind them and what their purpose is. In the past, Facebook has removed accounts linked to Russia , Iran and other countries for trying to wreak political havoc or influence elections in the U.S. and elsewhere. The accounts and posts in question posted about elections, alleged misconduct by political candidates and local news. Facebook says they tried to hide their identity but were linked to a network organized by Ga...
SBI, Oriental Bank put on sale stressed accounts to recover dues of Rs 5,740 cr

SBI, Oriental Bank put on sale stressed accounts to recover dues of Rs 5,740 cr

Finance
State-owned State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore. The country's largest lender SBI has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs) to recover an outstanding of Rs 4,975 crore. The bulk of accounts up for sale by SBI are of small and medium enterprises (SMEs) that have dues amounting to Rs 4,667 crore. OBC wants to sell 13 accounts with a collective outstanding of Rs 764.44 crore, according to the bid document placed on its website. As many as 281 SME accounts are up for sale by SBI, belonging to those firms that have dues of up to Rs 50 crore. The collective dues on these SMEs are Rs 4,666.50 crore. "In terms of the bank's policy on sale...