Cash transfer: PM says integrate banking system, PO network
- IPL spot-fixing case: Net widens, police watching 3 more players, other bookies
- IPL 2013: Imperious Brad Hodge powers Rajasthan Royals to qualifier
- Sonia Gandhi, PM Manmohan Singh slam BJP for disrupting Parliament, stalling bills
- IPL spot-fixing: 'Bookie' Vindoo was close to BCCI chief's son-in-law, say cops
- Jessica Lall case: Shayan Munshi to face perjury trial
Prime Minister Manmohan Singh on Monday suggested that the banking system needed to integrate with the post-office network to bring in financial inclusion in the rural areas in order to make the government's direct cash transfer scheme a success.
Speaking at the conclusion of a ministerial meeting on direct cash transfer — in place of subsidised schemes — which the government intends to introduce from next year, the Prime Minister said financial inclusion and the Aadhaar platform — grant of unique identification numbers to beneficiaries — were the "twin pillars" of the success of the initiative.
"To move closer towards the goal of financial inclusion, the banking system perhaps needs to integrate the post-office network, especially in the rural parts of the country. Ideally, the common man should be able to open a simple bank account on demand if they have an Aadhaar number...for banks, the increase in the number of account holders would be an investment in their own growth," Manmohan Singh said.
- Fixing probe now reaches Bollywood, son of Dara Singh held
- BCCI cashes Pune Warriors guarantee, 'disgusted' Sahara walks out of IPL
- Sreesanth spent Rs 1.95L on clothes, bought friend BlackBerry, paid in cash: Police
- Delhi firm with MoD as client is linked to Pak cyberattacks
- After Infosys, iGATE sacks Phaneesh Murthy for sexual misconduct
- 2 weeks after harassment, Haryana schoolgirls return, cops in tow