आर्थिक

Non-Banking-Financial-Companies NBFCs are minting money at cost of public-money deposited in banks where presently banks including public-sector ones finance these NBFCs for money-lending business. It is noteworthy that owners of some NBFCs are themselves in news for extra big questionable bank-loans. There must be a total ban on banks financing for purpose of money-lending business. Banks are charging undue interest-rate of even tune of above 40-percent per annum on loans taken through credit-cards where credit-card statements in bold letters are printed with a small 5-percent fraction of total bill-amount as Minimum-Amount-Due. Ignorant customers who usually do not read conditions printed in tiny letters just pay this printed Minimum-Amount-Due in total ignorance that they become liab...

Problems are experienced in getting Income Tax refunds whenever some assesse changes bank other than that mentioned in Income Tax returns. Many banks are in process of changing account-numbers due to technical reasons. In such cases, refunds sent electronically are bounced back causing great difficulty to the assesses. System should be modified whereby all possible details about PAN-card holder including bank-details, passport-details, mobile-number, e-mail ID, aadhar-details, voter-card number and all other available details are registered in data of PAN-cards with Income Tax department. Provision should be there whereby PAN-card holder may be able to modify or change any of the details by getting One-Time-Password (OTP) on mobile-numbers and uploading relevant documents for verification ...

All savings-schemes including at post-offices, RBI bonds and LIC pension-plans should be available through all branches of public-sector banks abolishing commission to agents The then Finance Secretary Dr Hansmukh Adia vide a demo-official letter dated 07.02.2018 transferred suggestions about making available all government savings-schemes including all those available in post-offices, RBI-bonds bearing 7.75 percent annual-interest and LIC pension-plans including Jeevan Akshay and Pradhan Mantri Vaya Vandana Yojna in all branches of public-sector banks to Rajiv Kumar, the then Secretary of Department of Financial Services. These detailed submissions also suggesting linking of every branch of all public-sector banks to some nearing unit of LIC of India, were also posted on 02.02.2018 at ...

Reserve Bank of India (RBI) has announced issue of new-designed rupees-20 currency-notes, last under new series of smaller-sized currency-notes in different denominations issued in phases but completed in more than two years when first notes in denominations of rupees 2000 and 500 were issued soon after demonetization on 08.11.2016. It is true that notes in denominations of rupees 2000 and 500 were issued in emergency conditions to meet big challenge of demonetisations. But issue of notes in rest other denominations of rupees 10, 20, 50, 100 and 200 must have been simultaneous to avoid repeated changes in ATMs costing heavily to banks. Otherwise also new series of coins or currency must be issued simultaneously in all denominations rather than in phases. Since currency-notes in denom...