Banks to operate one-man branch in rural areas
The finance ministry will
treat a bank representative
offering basic services in villages
using a Net-enabled laptop as a
branch, widening the reach of the
government’s financial inclusion
plan and doing away with the
need to spend on infrastructure.
The ministry directive comes
at a time when banks have
raised questions...
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Sebi tells for AMC’s to launch
pension plans
The Securities and Exchange
Board of India (Sebi) has said that
asset management companies
(AMCs) should launch pension
products in order to increase
households’ participation in the
market. “Compare to any part of
the world, the level of participation
in the Indian market by households
is very low,” said UK Sinha,
chairman, SEBI. “One...
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MFs seek break from regulatory changes
Continuous regulatory changes in
recent years have started taking
a toll on the mutual fund (MF) sector.
Though most executives at fund
houses admit the steps were aimed
at growing the industry, they
complain that “there is no breathing
space left”.
Earlier, soon after taking over as
chief executive at the Association of
Mutual Funds in...
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Pay for inoperative a/c, cash deposits
You will now have to pay if you
don’t operate your savings or
current account for a year. HDFC
Bank, the second largest private
sector lender in the country, has
decided to charge ` 50 per month
if a customer’s savings or current
account has remained inoperative
for a year....
How Indian households save
and invest: NCAER Survey
Though investor population
over the past decade has grown
significantly, it hasn’t quite enticed
Indian households to follow suit.
According to the report — How
Households Save and Invest:
Evidence from National Council
of Applied Economic Research
(NCAER) Household Survey....
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