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Marathe expects Budget to allow 2 decades' stalled license for UCBs

By Satish Marathe
A. Licences for opening new UCBs have not been issued for almost 2 decades. At the same time, Licenses have been issued by RBI to variety of new Banks. Considering the continental size of the Country, the present number of UCBs is too small and several States and Districts do not have even a single UCB.
B. Committee to prepare Vision Document for Urban Co-Op Banks.
A broad-based Committee of Cooperators & Officials is constituted to prepare a Vision Document and a Roadmap with Landmarks for growth and development of the UCB Sector.
C. Credit Guarantee Fund Scheme –
Under the above Scheme, PSU Banks, Private Sector Banks, Foreign Banks, RRBs and even Small Finance Banks are eligible lending Institutions and they get cover under the Guarantee ....

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Post office PPF account holder? Know how you can deposit money online

Post Office account holders can deposit money online through India Post Payment Bank (IPPB) app or DakPay
Post office PPF account holder? Know how you can deposit money online
New Delhi: Post Office account holders can easily carry out basic banking transactions easily through India Post Payment Bank (IPPB). With IPPB one can easily check their balance, transfer money, and carry out other financial transactions through IPPB for which they had to visit the post office earlier.
Recurring deposit (RD), Public Provident Fund (PPF), Sukanya Samriddhi Account (SSA) are some of the post office saving deposit schemes. IPPB allows customers to carry out the transactions smoothly. ....

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