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6.1 million Jan Dhan accounts opened in 3 months: Finance Ministry

Economic Times

Economic Times · 21d ago

6.1 million Jan Dhan accounts opened in 3 months: Finance Ministry

In a recent financial inclusion campaign, the Indian finance ministry announced the opening of 6.1 million new PM Jan Dhan Yojana accounts over three months, which concluded on September 30. Additionally, more than 26 million enrollments occurred under three Jan Suraksha Schemes. Furthermore, the re-verification of KYC details for 23.2 million inactive accounts was completed, and nomination updates were made in 5.69 million accounts, with 230,895 camps organized nationwide.

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Women at the heart of India’s growth story: FM Nirmala Sitharaman

YourStory

YourStory · 4m ago

Women at the heart of India’s growth story: FM Nirmala Sitharaman

Indian women have significantly contributed to India’s growth, as highlighted by Finance Minister Nirmala Sitharaman during the "11 Years of Sashakt Nari" event. Women hold 55.7% of Pradhan Mantri Jan Dhan Yojana accounts and 68% of MUDRA loan beneficiaries. Female entrepreneurs dominate the StartUp India scheme, and women account for most Pradhan Mantri Awas Yojana (Gramin) home owners. The government's Ujjwala Yojana and Jan Dhan Yojana initiatives further empower women economically, socially, and health-wise.

India to become world's third largest economy soon: RBI Governor

Economic Times

Economic Times · 1m ago

India to become world's third largest economy soon: RBI Governor

Reserve Bank of India Governor Sanjay Malhotra announced that India is poised to become the world's third-largest economy soon. He credits the Pradhan Mantri Jan Dhan Yojana for significantly contributing to this growth by enhancing financial inclusion. The initiative, started 11 years ago, has led to the opening of 55 crore accounts, facilitating savings, pension, insurance, and credit access for all citizens. This growth is part of India's broader economic progress, with GDP growth reaching 7.8% recently.

Ashwini Vaishnaw takes charge of IT ministry; promises focus on tech, manufacturing

Economic Times

Economic Times · 1y ago

Ashwini Vaishnaw takes charge of IT ministry; promises focus on tech, manufacturing

Union Minister Ashwini Vaishnaw has emphasized the government's commitment to bolstering India's position as a global leader in semiconductor and electronics manufacturing. In charge of the Ministry of Electronics and IT (MeitY), Vaishnaw highlighted the transformative impact of government initiatives like Digital India, which has empowered citizens through programs like Jan Dhan and Aadhaar over the past decade. Retaining his portfolio in the Modi 3.0 government, Vaishnaw aims to leverage technology for positive change in the lives of Indian people, particularly the youth, and promote a future driven by new-age technology.

ITR Filing, UPS deadline, SBI credit card changes, Registered Post mergerand more: Deadlines & key watchouts in September 2025 - The Economic Times

Economic Times

Economic Times · 1m ago

ITR Filing, UPS deadline, SBI credit card changes, Registered Post mergerand more: Deadlines & key watchouts in September 2025 - The Economic Times

September 2025 brings significant financial updates: India Post merges Registered Post with Speed Post; SBI revises credit card rewards, ending points for certain transactions. Special fixed deposit schemes at Indian Bank and IDBI Bank end this month. The ITR filing deadline for specific taxpayers extends to September 15, while central government employees must switch from NPS to UPS by September 30. Public sector banks facilitate re-KYC for Jan Dhan accounts, with PNB's Monsoon Bonanza retail loan campaign expiring on September 30.

Private banks told to step up Jan Suraksha, credit outreach play

Economic Times

Economic Times · 1m ago

Private banks told to step up Jan Suraksha, credit outreach play

The Indian government has urged private sector banks to enhance their involvement in its flagship schemes like Jan Suraksha and undertake a more proactive role in State Level Bankers' Committees. This directive aims to improve micro and small enterprise credit outreach and facilitate financial inclusion. Additionally, the government has launched a campaign to increase adoption of schemes like Jan Dhan Yojana, targeting significant enrolment figures across various banking and welfare programs by holding numerous nationwide camps.

Modalities being worked out for gig workers' PM-JAY coverage: Expenditure Secretary

YourStory

YourStory · 8m ago

Modalities being worked out for gig workers' PM-JAY coverage: Expenditure Secretary

The Indian Finance Ministry, alongside the Labour Department, is developing a scheme to extend PM Jan Arogya Yojana (PM-JAY) healthcare coverage to approximately one crore gig workers. Announced in the Budget speech by Finance Minister Nirmala Sitharaman, gig workers will gain identity cards and be registered on the e-Shram portal. Details of the scheme and its cost-sharing between Centre and states are being finalized. PM-JAY provides health coverage of Rs 5 lakh per family annually.

Dhan appoints Angel One’s Ketan Shah as CEO of omni channel biz

Entrackr

Entrackr · 16d ago

Dhan appoints Angel One’s Ketan Shah as CEO of omni channel biz

Dhan appoints Angel One’s Ketan Shah as CEO of omni-channel biz. Shah joins Dhan’s leadership team to build and scale its omni-channel business and distribution of investing and trading products and other financial services. Stock trading platform Dhan has announced the appointment of Ketan Shah as Chief Executive Officer (CEO) of Omni Channel Business. Shah brings over 25 years of rich experience in the stock broking industry, covering business, technology, distribution, revenue, and strategy. He joins Dhan’s leadership team to build and scale its omni-channel business and distribution of investing and trading products and other financial services. Before joining Dhan, Shah was a key contributor at Angel One (formerly Angel Broking) for over 25 years. He was involved in its early journey, transformation into a digital business, public market listing, and scale-up to become one of the top 3 broking platforms in India. Most recently, he served as Chief Strategy Officer and Board Member at Angel One. Headquartered in Mumbai, Raise Financial Services owns and operates several platforms, including Dhan, a stock trading platform for investors and traders; Upsurge, a platform for learning about finance and markets in India; ScanX, which provides market insights and intelligence for public market investors; and FilterCoffee, offering financial media. Founded in January 2021 by Pravin Jadhav, Alok Pandey, Jay Prakash Gupta, and Raunak Rathi, Dhan last raised $22 million in January 2022. BEENEXT, Mirae Asset, 3one4 Capital, and Rocketship.vc are its major investors. The company was reportedly in talks to raise a large round. In September last year, Dhan surpassed Paytm Money to enter the top 10 list, competing in a crowded market alongside players such as Groww, Zerodha, AngelOne, Upstox, Paytm Money, and PhonePe’s Share. As per the latest NSE data, Dhan secured the 9th spot among stock brokers in August, with a 2.15% market share and 1 million clients.

DFS Secretary urges fintechs to focus on driving offline payment solutions

Economic Times

Economic Times · 3m ago

DFS Secretary urges fintechs to focus on driving offline payment solutions

Department of Financial Services Secretary M. Nagaraju urged fintechs to enhance offline payment solutions to boost financial inclusion. At the CII Summit, he emphasized financial inclusion's role in economic growth and its connection to seven UN Sustainable Development Goals. Progress in India was highlighted with the Pradhan Mantri Jan Dhan Yojana, which increased bank account access from 35% in 2014 to 99% today, integrating millions into the formal financial system.

Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru

Entrackr

Entrackr · 3m ago

Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru

Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru According to the company, the Slice UPI credit card comes with no joining or annual charges. Users can scan QR codes or make UPI payments to access their credit lines. Fintech company Slice has launched a UPI credit card and opened a UPI-powered physical bank branch in Bengaluru, following its merger with North East Small Finance Bank. The Slice UPI credit card offers up to 3% cashback on all spends and includes a feature called Slice in 3, allowing customers to convert purchases into three interest-free instalments. The newly opened branch in Koramangala includes UPI-integrated services, self-service kiosks, and a UPI-enabled ATM supporting deposits and withdrawals. Customers can also open accounts and access other banking products at the branch. Slice aims to integrate credit more closely with UPI and expand access to users outside the traditional credit ecosystem. Unlike most fintech companies that rely on third-party banking partners, Slice operates as a bank, controlling its infrastructure, including core banking systems and credit underwriting. Slice recently passed a resolution to rebrand North East Small Finance Bank as Slice Small Finance Bank. The merger was completed in October last year. In a media interview, Slice founder Rajan Bajaj said the bank has turned profitable on a monthly basis and the group aims to go public in the next three to four years. The Bengaluru-based company has raised nearly $400 million in funding, including a $220 million Series B round led by Tiger Global and Insight Partners. Tiger Global is the largest stakeholder, followed by Insight Partners.

Economic Survey in 10 charts: Stability, inclusivity central to 2047 Viksit Bharat vision

Money Control

Money Control · 1y ago

Economic Survey in 10 charts: Stability, inclusivity central to 2047 Viksit Bharat vision

The Economic Survey 2023-24 projected GDP growth at 6.5-7 percent for FY25 and emphasized the need for structural reforms to achieve sustained growth above 7 percent. It highlighted the importance of developing modern storage and processing facilities for fruits and vegetables to stabilize prices and the need to generate 7.9 million jobs annually until 2030. The survey commended India's efforts in achieving climate goals and financial inclusion through schemes like direct benefit transfers and Jan Dhan Yojana. It also mentioned the growth of global capability centres in India and the importance of private sector financing for infrastructure development.

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