1. Future lies in manufacturing: Modi
Promising to take the country on the path of faster, more inclusive and sustainable growth, Prime Minister Narendra Modi announced on Friday the setting up of a new institution to replace the Planning Commission and make India a manufacturing hub.
Speaking extempore during his maiden Independence Day speech as Prime Minister, Mr. Modi vowed to empower the poor with access to finance and give States a bigger role in making policies and decisions for the economy.
“If we have to take India forward, then States will have to be taken forward. The importance of federal structure is more today than it was in last 60 years ...We will very soon set up a new institution in place of Planning Commission,” he said.
Mr. Modi said the new institution would foster cooperative federalism, facilitate public-private partnership and help in better navigation of the new economic challenges the country faced.
Inviting global investors to make India their manufacturing base and calling upon the young industrial workforce and entrepreneurs to pitch in to building the made-in-India brand, Mr. Modi said: “Come, make in India, manufacture in India. Sell in any country of the world but manufacture here.”
Talking about the increasing number of rapes, Mr. Modi bemoaned the tendency of parents to restrict the freedom of their daughters, while letting their sons have all of it.
2. SBI chief: Jan Dhan scheme will bring down use of cash
Rapid financial inclusion envisaged by the Government under the ‘Jan Dhan Yojana’
will lead to a decline in the usage of cash in India in line with developed countries, according to State Bank of India Chairman Arundhati Bhattacharya.
Referring to the magnitude of the challenge under financial inclusion, whereby only 58.7 per cent of households in India avail of banking services, the SBI chief said against this background, the launch of the Jan Dhan scheme by the Government is a welcome step.In his Independence Day speech Prime Minister Narendra Modi announced a major new scheme — Jan Dhan Yojana — to universalise banking access and financial inclusion.
This scheme will provide for a bank account, a debit card and an insurance amount of Rs. 1 lakh to poor families.
Bhattacharya, in a statement, said with such rapid financial inclusion, the use of cash in India will decline in line with developed countries such as the UK (2 per cent), Australia (3 per cent), and Japan (6 per cent) going forward.
3. England in command after India surrender for 148
From 43 for 5 in the first session, India hobbled to 148 all out in the final session in their first innings of the fifth and the final Test at Kennington Oval largely owing to a rearguard effort of 82 off 140 balls from skipper Mahendra Singh Dhoni. Apart from Dhoni, only Ravichandran Ashwin (13) and Murali Vijay (18) managed double-figure scores on a day England fast bowlers ruled the roost and operated as a top notch fast bowling unit.
4. PM to announce infra projects for poll-bound Maharashtra
The Government is set to announce a number of highway and power projects for poll-bound Maharashtra.
Prime Minister Narendra Modi is scheduled to visit Mumbai and Solapur for a day on Saturday, when he will announce the projects. The visit coincides with the inauguration of the four-lane Pune-Solapur section of National Highway-9 (NH-9). Modi will also lay the foundation stone for four-laning the Solapur-Maharashtra/Karnataka border section of NH-9 at a function in Solapur.
5. India Post set to hit the ground running when it gets bank licence
Banks in India had better sit up and take notice of this lumbering giant of a competitor, waiting in the wings to steal a march on them.
By seeking to engage a service provider who can supply up to 1.5 crore ATM/ debit cards in three years, the Department of Posts (DOP) is truly gearing up for its foray into banking.
The Department, which falls under the administrative control of the Ministry of Communications and Information Technology, may either source magnetic stripe cards or chip-based cards, or a combination of both, depending on the requirement.
It will issue cards in association with RuPay, VISA, and MasterCard, according to information on its website.
Also known as India Post, DOP is expected to become a Payments Bank once the central bank finalises its guidelines for differentiated bank licensing.
1. Future lies in manufacturing: Modi
Promising to take the country on the path of faster, more inclusive and sustainable growth, Prime Minister Narendra Modi announced on Friday the setting up of a new institution to replace the Planning Commission and make India a manufacturing hub.
Speaking extempore during his maiden Independence Day speech as Prime Minister, Mr. Modi vowed to empower the poor with access to finance and give States a bigger role in making policies and decisions for the economy.
“If we have to take India forward, then States will have to be taken forward. The importance of federal structure is more today than it was in last 60 years ...We will very soon set up a new institution in place of Planning Commission,” he said.
Mr. Modi said the new institution would foster cooperative federalism, facilitate public-private partnership and help in better navigation of the new economic challenges the country faced.
Inviting global investors to make India their manufacturing base and calling upon the young industrial workforce and entrepreneurs to pitch in to building the made-in-India brand, Mr. Modi said: “Come, make in India, manufacture in India. Sell in any country of the world but manufacture here.”
Talking about the increasing number of rapes, Mr. Modi bemoaned the tendency of parents to restrict the freedom of their daughters, while letting their sons have all of it.
2. SBI chief: Jan Dhan scheme will bring down use of cash
Rapid financial inclusion envisaged by the Government under the ‘Jan Dhan Yojana’
will lead to a decline in the usage of cash in India in line with developed countries, according to State Bank of India Chairman Arundhati Bhattacharya.
Referring to the magnitude of the challenge under financial inclusion, whereby only 58.7 per cent of households in India avail of banking services, the SBI chief said against this background, the launch of the Jan Dhan scheme by the Government is a welcome step.In his Independence Day speech Prime Minister Narendra Modi announced a major new scheme — Jan Dhan Yojana — to universalise banking access and financial inclusion.
This scheme will provide for a bank account, a debit card and an insurance amount of Rs. 1 lakh to poor families.
Bhattacharya, in a statement, said with such rapid financial inclusion, the use of cash in India will decline in line with developed countries such as the UK (2 per cent), Australia (3 per cent), and Japan (6 per cent) going forward.
3. England in command after India surrender for 148
From 43 for 5 in the first session, India hobbled to 148 all out in the final session in their first innings of the fifth and the final Test at Kennington Oval largely owing to a rearguard effort of 82 off 140 balls from skipper Mahendra Singh Dhoni. Apart from Dhoni, only Ravichandran Ashwin (13) and Murali Vijay (18) managed double-figure scores on a day England fast bowlers ruled the roost and operated as a top notch fast bowling unit.
4. PM to announce infra projects for poll-bound Maharashtra
The Government is set to announce a number of highway and power projects for poll-bound Maharashtra.
Prime Minister Narendra Modi is scheduled to visit Mumbai and Solapur for a day on Saturday, when he will announce the projects. The visit coincides with the inauguration of the four-lane Pune-Solapur section of National Highway-9 (NH-9). Modi will also lay the foundation stone for four-laning the Solapur-Maharashtra/Karnataka border section of NH-9 at a function in Solapur.
5. India Post set to hit the ground running when it gets bank licence
Banks in India had better sit up and take notice of this lumbering giant of a competitor, waiting in the wings to steal a march on them.
By seeking to engage a service provider who can supply up to 1.5 crore ATM/ debit cards in three years, the Department of Posts (DOP) is truly gearing up for its foray into banking.
The Department, which falls under the administrative control of the Ministry of Communications and Information Technology, may either source magnetic stripe cards or chip-based cards, or a combination of both, depending on the requirement.
It will issue cards in association with RuPay, VISA, and MasterCard, according to information on its website.
Also known as India Post, DOP is expected to become a Payments Bank once the central bank finalises its guidelines for differentiated bank licensing.
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