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Tag: financial inclusion

RBI Governor Clarifies UPI Not Truly Free, Highlights Government’s Rs. 8,000 Crore Subsidy

RBI Governor Shaktikanta Das clarified that UPI is not truly free, highlighting that the government has subsidized over ₹8,000 crore to keep it so for users. He praised the Modi government's support for promoting digital payments while underlining the operational costs involved in maintaining UPI’s infrastructure.

Financial Inclusion and Saturation Camp Organized in Sankara Village by Bank of Baroda

A financial inclusion and saturation outreach camp was organized in Sankara village by the Lead District Bank Office and Bank of Baroda, Somni branch. Officials from the bank’s head office in Vadodara and regional offices in Raipur and Durg participated, highlighting the importance of KYC compliance in Jan Dhan accounts and promoting various social security schemes such as PMJJBY, PMSBY, and Atal Pension Yojana.

Corporate Financial Reporting From Hard Copies to Digital QR Codes:

In a thought-provoking post on May 29, Bangalore-based tax practitioner SL Joshi raised concerns about the shift from traditional hard-copy financial statements to digital formats like QR codes and online portals. Highlighting the growing challenges for retail investors, Joshi warned that this digital transformation could limit access to crucial financial data, favoring professional investors while sidelining those without the tools or expertise to keep up. His observations call for urgent attention to inclusivity in corporate financial reporting.