Nirmala Sitharaman urges regional rural banks to remove PMJDY duplications

Posted By: Vanshika Pathak Posted On: Aug 30, 2023
Sitharaman also directed the MD & CEO of Punjab National Bank (PNB) to ensure that all RRBs acquire digital onboarding capability by 1 November 2023 (ANI)

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday urged Regional Rural Banks (RRBs) to remove duplication of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts and facilitate storage facility for apple growers in Jammu & Kashmir and Himachal Pradesh.

At a review meeting of the RRBs of the Northern region in the capital, Sitharaman said that banks should map RRBs with MSME (micro, small & medium enterprise) clusters and put greater thrust on increasing the network of rural branches in cluster areas identified by the Ministry of Micro, Small & Medium Enterprises.

Sitharaman emphasised on increasing penetration under the PM Mudra Yojana (PMMY) and stated that a roadmap must be prepared for completing the designated activities in a time-bound manner.

During the review meeting, the finance minister also directed RRBs to upgrade their digital capabilities.

Sitharaman directed the managing director and chief executive of Punjab National Bank (PNB) to ensure that all RRBs acquire digital onboarding capability by 1 November 2023.

Source: Live Mint
Related Posts: FINANCE MINISTER,NIRMALA SITHARAMAN INTERVIEW,RRB,REGIONAL RURAL BANKS,PUNJAB NATIONAL BANK,PNB,MSME,MINISTRY OF MSME,PMJDY

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



CBI Registers Case Against Visa Power And Its Chairman In Rs 1

Posted By: Vishal Maurya Posted On: Aug 25, 2023

An FIR has been registered by CBI against Visa Power and its then chairman Vishambhar Saran in connection with an alleged bank fraud of Rs 1,964 crore. According to PTI, this move came after a complaint from Punjab National Bank (PNB), one of the members of an association of 14 lenders that have sanctioned term loans of Rs 1,964 crore. PNB, being the lead bank of the consortium, had sanctioned a loan of Rs 394 crore in the initial phase.

CBI alleged that Visa Power and accused officials, Saran and directors Vikas Agarwal and Subrato Trivedi, who are also mentioned in the FIR as accused approached the bank to seek loans to develop a coal-based thermal power project with a generation capacity of 1,200 MW in Raigarh, Chhattisgarh.

A statement in the FIR reads, “It has transpired that the accused persons in connivance and in furtherance of criminal conspiracy with each other have caused wrongful gain to themselves and wrongful loss to the banks to the tune of Rs 1,964 crore apart from interest dues from the date of NPA."

The project was developed in two phases of 600 MW each and was financed through an association of lenders. The account was declared as a non-performing asset (NPA) by banks between 2015 and 2016 because the project failed to achieve the goals like a failure of promoters to bring their respective share including the expiry of the power purchase agreement, expiry of coal linkages and delayed in environmental clearance are a few mentioned.

The complaint from PNB also mentioned that it is clear that accused persons marked a conspiracy against public sector banks with “intent to cheat them by diverting and siphoning off money and committed various offences" under appropriate provisions of the Indian Penal Code. CBI also mentioned that PNB has already issued a lookout circular against the alleged accused persons.

Source: News18
Related Posts: FRAUD,CBI,PUNJAB NATIONAL BANK,NEWS18-DISCOVER

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.

POPULAR News

icon
Bussiness Petrol and diesel prices In India remained stagnant on Thursday, continuing the year long price stability, that has been seen since May 21 last year, when the previous pan-India revision to fuel rates was carried out. Prices across major cities including New Delhi, Kolkata, Mumbai, Chennai did not r
icon
Bussiness Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 19,816, signaling that Dalal Street was headed for a positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons. Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 1
icon
Bussiness OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, featuring Pankaj Tripathi, Akshay Kumar, and Yami Gautam, achieved a strong opening at the domestic box office on its first day of release. OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, f
icon
Bussiness MCX Q1 Results: Multi Commodity Exchange of India (MCX) announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 29, reporting a decline of 52.5 per cent in consolidated net profit of ₹19.66 crore, compared to ₹41.46 crore in the corresponding period last year. The operating inc
icon
Bussiness Power trading solutions provider PTC India on Saturday posted a 5.62 per cent year-on-year rise in its consolidated net profit at ₹142.70 crore for the April-June quarter of this fiscal, mainly on the back of higher revenues. Power trading solutions provider PTC India on Saturday posted a 5.62 per ce
icon
Bussiness As the deadline for filing Income Tax Returns (ITR) is just one day away, the department stated that more than 6 crore tax returns have been filed for income earned in the 2022-23 fiscal year as of Sunday evening. A total of 27 lakh ITRs have been received by the income tax department, number which has surp
icon
Bussiness Petrol, and Diesel Prices on August 10: The price of Petrol and Diesel remained constant on Wednesday, August 10 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary fro
icon
Bussiness RBI MPC Meeting 2023 Live Updates: Will Guv Das Hike Repo Rate Or Leave it Unchanged? Updated 1 hour ago
icon
Bussiness LPG Cylinder Rates: Oil marketing companies have cut the price of 19 kg LPG gas cylinders across the country. There has been a reduction of Rs 100 in Delhi. At the same time, a reduction of around Rs 93 has been made in other metros. Now 19 kg cylinder will be available in Delhi for Rs 1680, which was till now a
icon
Bussiness Petrol, and Diesel Prices on July 31: The price of Petrol and Diesel remained constant on Monday, July 31 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary from state t
icon
Bussiness India and Britain could sign a free trade agreement (FTA) this year as both countries have reached consensus on the broad contours of the proposed deal aiming to boost economic growth and jobs, a top Indian trade ministry official said. India and Britain could sign a free trade agreement (FTA) this yea
icon
Bussiness Balrampur Chini Mills posted strong Q1 results on Saturday as their profit jumped a whopping 493% to touch ₹73.5 crore during the quarter ending June 2023. During the same quarter last fiscal, the company posted consolidated net profit of ₹12.38 crore. The revenue of the company rose 28% from ₹1,094.
icon
Bussiness The price of gold marginally dropped on Thursday, with the cost of 1 gram of 22 carat gold declining to ₹5,495 from yesterday's ₹5,505, as per the figures released by Goodreturns. Accordingly, the price of 8 grams of 22 carat gold also decreased to ₹43,960 from the previous figure of ₹44,040, marking a p
icon
Bussiness Reliance Industries Ltd, India's most valuable company, has sought shareholder's approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 -- a period during which he has opted to draw nil salary.
icon
Bussiness Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till July 31, the airline announced in a tweet on Sunday. Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till Jul
icon
Bussiness In order to settle the pending contractual disputes of government and government undertakings, the finance ministry has launched the ‘Vivad se Vishwas II – (Contractual Disputes)' scheme, according to an official statement released on Wednesday. Finance Minister Nirmala Sitharam announced th
icon
Bussiness If you did not link your Permanent Aadhaar Number (PAN) to Aadhaar before June 30, your PAN is now considered inoperative. This means you'll face some problems with your financial activities and taxes. For instance, you won't be able to invest in bank fixed deposits or mutual fund schemes, file income
icon
Bussiness IT electronics refurbishing firm NewJaisa Technologies's initial public offering (IPO) will be open for subscription on Monday, i.e September 25. The company aims to raise ₹39.93 crore through its IPO. The issue will close for subscription on September 27. The company's IPO had opened for anchor investors on Friday. The fresh issue size is of 84,96,000 equity shares at face value of ₹5 each.
icon
Latest News India is currently seeing a surge in cases of acute conjunctivitis or eye flu. It is caused by various factors, such as allergies or infections, resulting in inflammation of the conjunctiva that covers the white part of the eyeball. The incessant rain, humid conditions, and waterlogging are providi
icon
Bussiness The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI. The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.
icon
Bussiness India's foreign exchange reserves jumped $708 million to $602.161 billion for the week ended August 11, the Reserve Bank of India (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous reporting week, the overall reserves had declined $2.417 billion to $601.453 billion.
icon
World Ukrainian President Volodymyr Zelensky arrived in the Netherlands on Sunday aiming to strengthen his country's air power, a day after a “heinous" Russian missile strike killed seven people and wounded 148 in Chernihiv. Ukrainian President Volodymyr Zelensky arrived in the Netherlands on Sunday aiming to strengthen his country's air power, a day after a “heinous" Russian missile strike killed seven people and wounded 148 in Chernihiv.
icon
Entertainment Filmmaker Anurag Kashyap recently gave a glowing review to Karan Johar's directorial comeback Rocky Aur Rani Kii Prem Kahaani. After Anurag revealed he loved, cried and watched the film twice, many users took to the comment section of his post and criticised the film. Responding to them all, Anurag c
icon
World China has released a new documentary about the army's preparation to attack Taiwan and showcasing soldiers pledging to give up their lives if needed as Beijing continues to ramp up its rhetoric against the self-ruled island. China has released a new documentary about the army's preparation to attac
icon
Bussiness Gogoro In, a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced a vehicle partnership with Swiggy, India’s leading on-demand convenience delivery platform. Gogoro In, a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced a vehicle partnership with Swiggy, India’s leading on-demand convenience delivery platform.