Synopsis
A day earlier, in a blow to savers, the government had cut interest rates on small savings schemes, such as post office deposits and public provident fund, by up to 110 basis points. The new rates were to be effective today.
Order on small savings interest rate cuts withdrawn: FM Nirmala Sitharaman
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The finance ministry has withdrawn its decision to slash interest rates on small savings schemes like the Public Provident Fund and the National Savings Certificate (NSC), terming it an oversight , on Thursday.
The rates on such schemes will continue to remain as they were during the January-March quarter, reversing the cut on interest rates of up to 110 basis points or 1.1 percentage points announced a day earlier.
India Business News: The government on Thursday hastily recalled an order drastically reducing interest rates on small savings schemes like post office deposits and public
Dept of Posts launches Five Star Village scheme thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
By Satish Marathe
A. Licences for opening new UCBs have not been issued for almost 2 decades. At the same time, Licenses have been issued by RBI to variety of new Banks. Considering the continental size of the Country, the present number of UCBs is too small and several States and Districts do not have even a single UCB.
B. Committee to prepare Vision Document for Urban Co-Op Banks.
A broad-based Committee of Cooperators & Officials is constituted to prepare a Vision Document and a Roadmap with Landmarks for growth and development of the UCB Sector.
C. Credit Guarantee Fund Scheme –
Under the above Scheme, PSU Banks, Private Sector Banks, Foreign Banks, RRBs and even Small Finance Banks are eligible lending Institutions and they get cover under the Guarantee
Prayagraj: Union minister of state for communications Sanjay Dhotre launched the Five-Star Villages scheme in Prayagraj at an event at head post office on Friday evening and announced the list of villages in the state covered under it. Five-Star Villages scheme aims to ensure universal coverage of flagship postal schemes in rural areas of the country.
The department of posts has divided UP into seven regions. In phase-one, 151 villages have been selected, including 41 in Agra region, 26 in Lucknow region, 35 in Bareilly region, two in Ghaziabad, 15 in Varanasi, 25 in Kanpur and seven villages from Allahabad region.
Among these five villages are from Pratapgrah and two from Sultanpur district. Sarai Nahar Rai, Tiwaripur, Hanuman Misir, Parsa Dadwa, Pure Tikai kaa pura, Fakir ka purva and Kanaura villages of Pratapgarh and Sultanpur figure in the list. The districts in Allahabad region include Prayagraj, Pratapgrah, Kaushambi, Sultanpur and Mirzapur.