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The Centre has extended the deadline for linking Aadhaar to ration card from June 30, 2023, to September 30,2023, according to a notification issued by the Department of Food and Public Distribution.

Ration cards are provided to all households in order for them to get subsidised food grains and fuel. Apart from documentation such as a passport and a PAN card, the ration card also serves as confirmation of identification and residency.

However, there have been occasions where an individual obtains more than their fair share of rations or where individuals who are not entitled for rations receive them, depriving deserving others.

By linking the Aadhaar card to the ration card, the government will be able to prohibit individuals from obtaining duplicate ration cards. It is also feasible to detain those who are disqualified for collecting rations because their income exceeds the threshold.

This would also ensure that only those who are deserving obtain subsidised fuel or food grains.

The linkage also helps to prevent duplicate ration cards and dishonest middlemen, allowing genuine and worthy beneficiaries to receive government-sponsored benefits.

Documents needed to link Aadhaar card to Ration card

– Photocopy of original ration card

– Family member’s Aadhaar card photocopy

– Family head’s Aadhaar card photocopy

– Bank passbook photocopy

– Family’s head passport size photo: 2

Source: Bureau

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The rent for lockers at the State Bank of India (SBI) has changed, and the price depends on the location and size of the locker. Additionally, it asks that the locker holding branch sign the updated or supplemented locker agreement as necessary.

By June 30, 2023, the Reserve Bank of India has ordered all banks to ensure that at least 50 percent of its locker holders have signed the new agreement. Banks must also get 75 percent of their customers to sign the contract by September 30 and achieve 100 percent compliance by December 31.

2/11. SBI’s Small Locker Rent Charge

The bank charges urban and metro consumers Rs 2000 plus GST, while rural and semi-urban customers pay Rs 1500 plus GST.

3/11. SBI’s Medium Locker Rent Charge

The bank charges metro and urban customers Rs. 4000 plus GST, and rural and semi-urban customers pay Rs. 3000 plus GST.

4/11. SBI’s Large Locker Rent Charge

Customers in urban and metro areas pay Rs 8000+GST, while those in rural and semi-urban areas pay Rs 6000+GST.

5/11. SBI’s Extra Large Locker Rent

The bank charges metro and urban customers Rs 12,000 plus GST, and rural and semi-urban customers pay Rs 9000 plus GST.

6/11. SBI Locker Visit Charges

SBI locker owners are entitled to 12 free visits after which each additional visit would cost Rs 100 + GST.

7/11. SBI Locker Registration Charge

For small, medium, and extra-large lockers, SBI charges a one-time registration cost of Rs. 500 plus GST, and for big, Rs. 1,000 plus GST.

8/11. Locker Rent Overdue Charge

The bank assesses a late fee of 10 percent of the annual rent to be collected as the locker rent for the first quarter. The bank charges 20 percent and 30 percent in the second and third quarters, respectively. The bank assesses a 40 percent late fee for one year’s worth of unpaid locker rent. Banks have been breaking into lockers for more than a year.

9/11. Safe Deposit Articles

The one-time fee for all types of safe deposit articles is Rs 300 plus GST for an envelope and Rs 500 plus GST for large packets per quarter.

10/11. Safe Custody Charges

SBI levies a minimum of Rs 300 + GST annually and Rs 150 plus GST for each scrip.

11/11. Inoperative Locker

Even if the rent is paid on time and the locker stays inactive for seven years, the bank may transfer the contents to the hirer’s nominees or legal heirs or dispose of the items in a transparent manner.

The post SBI Revises Locker Rent Charges 2023: Check New Charges, Availability, Rules, Facility, And More appeared first on Rma News: Latest News, Live Breaking News, Today News, Political News Updates.

PM Kisan Yojana 14th instalment: Some farmers may get Rs 4,000 instead of Rs 2,000, check eligibility

So far, the government has released 13 instalments under PM Kisan Yojana. While most farmers will be receiving Rs 2000 instalments for the PM Kisan Yojana 14th instalment, a few are expected to get Rs 4000. According to reports, farmers who didn’t receive Rs 2000 in the 13th instalment are likely to get Rs 4000 in the 13th instalment.

Many farmers were not able to complete the process of their verification, owing to which they did not get the money for the 13th installment. However, a large number of farmers have now got their verification process completed. These farmers would now get Rs 4000 instead of Rs 2000.

PM-KISAN 14th Installment: How To Check Name on Beneficiary List

Eligible farmers can easily check their names on the official PM Kisan website. On the homepage of the website, you need to visit the Farmers Corner, followed by clicking on the Beneficiary Status option.

On the next page, you need to enter your details to find out if you’re eligible for receiving the benefits under PM Kisan Yoana or not. 

PM KISAN Scheme was launched by PM Narendra Modi in 2019, aims to provide income support to all landholder farmer families across the country with cultivable land, subject to certain exclusions.  Under the Scheme, an amount of Rs 6000 per year is released in three-monthly instalments of Rs 2000 each directly into the bank accounts of the beneficiaries. While lakhs of eager farmers are waiting for the disbursal of Rs 2,000 in their account, there are several farmers who are not eligible for the PM KISAN Scheme.

Those excluded from the PM-KISAN include institutional land holders, farmer families holding constitutional posts, serving or retired officers and employees of State or Central government as well as Public Sector Undetakings and Government Autonomous bodies. Professionals like doctors, engineers and lawyers as well as retired pensioners with a monthly pension of over Rs 10,000 and those who paid income tax in the last assessment year are also not eligible for the benefits.

Source: Bureau

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The post Just 2 Days Left To Change Your Aadhaar Details For Free; Here Is How To Do It appeared first on Rma News: Latest News, Live Breaking News, Today News, Political News Updates.

Travellers must choose travel insurance at the time of booking from IRCTC’s optional, low-cost services offered on e-tickets. Keep in mind that you cannot select insurance once the ticket has been purchased. However, it is not required to purchase travel insurance when making a reservation through the IRCTC.

It is crucial to follow the correct processes and present all required papers in order to get the settlement amount of a travel insurance policy. Let’s have a look at the procedures needed to submit a successful claim in various scenarios.

– Use the contact information listed in your policy documents to contact your travel insurance provider right away and let them know about the incident or emergency. The claims process depends on this quick notification.

– Follow the recommendations given by the insurance provider.

– Gather and keep safe all pertinent records and proof pertaining to the occurrence, including prescriptions, police reports, invoices, and pictures.

– Make contact with your insurance company and give them all the pertinent information about the occurrence, such as the date, time, place, and kind of claim.

– Complete the claim form completely, including all required information.

– Gather all the evidence you’ll need to prove your case. These could be whatever the insurer specifies, such as medical records, bills, police reports, tickets for trips, expense-supporting paperwork, and evidence of spending.

– Prior to sending the documents to the insurance provider, make photocopies or scan them all. This will guarantee that you have a backup of all the data you provided.

– Make sure all the required forms and supporting documentation are included. To make the processing of insurance claims easier, arrange them in a methodical way.

– Send the insurance company the claim package via the designated means, such as email, postal mail, or online claim portals. Retain receipts or email confirmations as proof of submission if possible.

 – After filing your claim, keep in touch with the insurance provider to find out how it is doing. Keep track of any claim reference numbers offered, and keep lines of communication available to address any additional needs or questions.

– You may successfully manage the travel insurance claims procedure and get the financial assistance you require during unforeseen travel emergencies by taking the right actions.

Source: Bureau

The post Insurance Coverage For Train Travel: Here’s How To Claim Up To Rs 10 Lakh appeared first on Rma News: Latest News, Live Breaking News, Today News, Political News Updates.

As per the initial indications, only a small number of passengers of the two passenger trains have opted for the travel accident insurance cover while booking through the IRCTC portal.

Replying to a list of questions sent to SBI General Insurance’s Managing Director and Chief Executive Officer (CEO) Kishore Kumar Poludasu, a company spokesperson told IANS: “As per data available, SBI General has covered 351 passengers.”

According to the SBI General Insurance official, a few claims for injury have been lodged with the company by the passengers of the two trains.

On the other hand, Roopam Asthana, Wholetime Director and CEO of Liberty General Insurance did not respond to the questions sent to him by IANS.

In that tragic accident, 288 passengers were killed and more than 1,000 others injured.

The IRCTC has selected SBI General Insurance and Liberty General Insurance to offer the travel accident insurance cover.

Those who reserveed tickets through IRCTC booking portal can opt for accident insurance for Rs 10 lakhs by paying a paltry premium of Re 0.35 paise.

The policy covers death/disabilities/medical expenses due to a train accident during the travel.

Both the companies declined to answer as to how the number of policies are divided between the two insurers when the tickets are booked.

Similarly the top officials of the two companies remained silent when queried about covering all the passengers which in turn would bring down the premium amount.

An industry official said the two insurers get an equal number of policies while the passengers book their tickets through the IRCTC portal. However, the number of passengers covered under a policy/ticket would differ.

“Even though they would like to have an insurance cover, not many passengers while booking a Tatkal train ticket on the IRCTC portal will be inclined to click on the insurance cover box as their main goal to reserve a ticket as every second counts during that time,” the insurance official said.

Further if all the train passengers are offered the travel insurance cover then the premium amount will further come down from 35 paise.

According to IRCTC’s regulatory filing of investor call transcript, during the last quarter of FY23, a total number of 10.44 crore tickets have been booked and 14.54 crores passengers have been booked on these tickets.

For the entire FY23, IRCTC had earned Rs.802 crore revenue from the internet ticketing service.

A total of 43 crore tickets were booked on IRCTC portal, the company said.

And in the last quarter of FY23, the convenience fee that IRCTC had earned was nearly Rs197 crore.

When the insurance scheme was started in 2016, the premium was 0.92 paise per passenger with Shriram General Insurance Company Ltd, ICICI Lombard General Insurance Company Ltd, and Royal Sundaram General Insurance Co. Ltd being the insurers.

Source: IANS

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In response to such unfortunate events, the government has taken action to compensate the victims and their families. Additionally, passengers have the option to avail themselves of the IRCTC travel insurance policy.

This insurance policy, available at a minimal premium of just 35 paise, offers uniform coverage to all classes of passengers, with a sum insured of up to Rs 10 lakhs in case of death or permanent disabilities.

While selecting the insurance option is not mandatory for every passenger during ticket booking, it is still a worthy consideration for times of need. By opting for this insurance policy, passengers can have peace of mind knowing that they have an additional layer of protection. To learn more about the details of IRCTC’s travel insurance policy, continue reading below.

What is the premium for IRCTC’s travel insurance policy?

According to IRCTC, the travel insurance policy will need a premium of 35 paise per passenger, inclusive of all taxes.

What benefits do passengers receive in case of death?

If the insured passenger suffers an accidental physical injury while traveling that results in death within 12 months from the date of the accident or untoward incident, they will receive 100% of the sum insured, which is Rs 10,00,000.

What benefits do passengers receive in case of permanent total disability?

If the insured passenger suffers an accidental physical injury while traveling that results in permanent total disability within 12 months from the date of the accident or untoward incident, they will receive 100% of the sum insured, which is Rs 10,00,000.

What benefits do passengers receive in case of permanent partial disability?

If the insured passenger suffers an accidental physical injury while traveling that results in permanent partial disability within 12 months from the date of the accident or untoward incident, they will receive 75% of the sum insured, which is Rs 7,50,000. However, the amount may vary in different cases.

What benefits do passengers receive for hospitalisation expenses?

In case the insured passenger requires hospitalization for injuries, they will be eligible to receive up to Rs 2,00,000 for hospitalization and medical treatment.

What benefits do passengers receive for the transportation of mortal remains?

If the insured passenger dies due to certain conditions directly related to any accident or untoward incidents while traveling, the insurance company will pay an amount of up to Rs 10,000 for the transportation of their mortal remains to their residence or the cremation ground.

Source: Bureau

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RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute “compromise settlements and technical write-offs” to resolve non-performing assets, Das said.

Till now, this avenue for dud asset resolutions was available only with scheduled commercial banks and select non-bank finance companies, Das said, adding that comprehensive guidelines on the same will be released soon.

It can be noted that the cooperative lending sector frequently makes headlines for lack of governance practices and conflicts of interest.

Das also said that it is proposed to rationalise the extant prudential norms on restructuring of borrower accounts affected by natural calamities.

The Governor also acknowledged that a need has arisen to ease the implementation challenges faced by other UCB (urban cooperative banks) on the priority sector lending targets, and announced to extend the timelines for achieving the targets by two more years up to March 2026.

Lenders which have met the targets as on March 31, 2023 shall be suitably incentivized, he added.

To further facilitate orderly development of the digital lending ecosystem and enhance credit penetration in the economy, the RBI has decided to introduce default loss guarantee arrangements in digital lending.

“With a view to further promoting responsible innovation and prudent risk management, it has been decided to issue guidelines on Default Loss Guarantee arrangements in Digital Lending,” Das said.

RBI has decided to rationalise and simplify the licensing framework for authorized persons under Foreign Exchange Management Act (FEMA), 1999, to improve the efficiency in the delivery of foreign exchange facilities to various segments of users including common persons, tourists and businesses, Das said.

To further enhance the efficiency of the Bharat Bill Payment System and to encourage greater participation, RBI has proposed to streamline the process flow of transactions and membership criteria for operating units, Das said.

With a view to providing greater flexibility for managing liquidity, it has been decided that scheduled commercial banks excluding Small Finance Banks can set their own limits for borrowing in Call and Notice Money Markets within the prescribed prudential limits for inter-bank liabilities, Das said.

Source: PTI

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Further, RuPay Debit, Credit, and Prepaid Cards will be enabled for issuance in foreign jurisdictions, which can be used internationally, including in India, Reserve Bank Governor Shaktikanta Das said, while unveiling the second bi-monthly monetary policy of this fiscal.

“These measures will expand the reach and acceptance of RuPay cards globally,” he said, while releasing the Statement on Developmental and Regulatory Policies.

The decision comes in view of RuPay Debit and Credit cards issued by banks in India gaining international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes.

He also said that Bharat Bill Payment System (BBPS) is an ‘anytime anywhere’ bill payments platform which is operational since August 2017.

“Currently, BBPS has onboarded over 20,500 billers and processes over 9.8 crore transactions every month. The scope of BBPS was further expanded in December 2022 to include all categories of payments and collections, both recurring and non-recurring in nature, as well as facilitating in-bound cross-border bill payments,” he said.

To enhance efficiency of the system and also to encourage greater participation, he said, the process flow of transactions and membership criteria for onboarding operating units in BBPS will be streamlined.

With regard to e-RUPI digital vouchers, he said, it is now proposed to expand the scope and reach of e-RUPI vouchers by permitting non-bank prepaid payment instruments (PPI) issuers to issue e-RUPI vouchers; enabling issuance of e-RUPI vouchers on behalf of individuals; and simplifying the process of issuance, redemption, etc.

These measures will make the benefits of eRUPI digital voucher accessible to a wider set of users and further deepen the penetration of digital payments in the country, he said.

The e-RUPI prepaid digital voucher, developed by the National Payments Corporation of India (NPCI), was launched in August 2021 by Prime Minister Narendra Modi as a person-specific and purpose-specific cashless voucher with a cap of Rs 10,000 and single-time redemption facility.

Last year, the RBI increased the cap on the e-RUPI prepaid digital vouchers to Rs 1 lakh from Rs 10,000 and permitted its usage multiple times to facilitate digital delivery of various government schemes to the beneficiaries.

E-RUPI is basically a digital voucher which a beneficiary gets on his phone in the form of an SMS or QR code. It is a pre-paid voucher, which he/she can go and redeem at any centre that accepts it.

This is a one time contactless, cashless voucher-based mode of payment that helps users redeem the voucher without a card, digital payments app, or internet banking access.

Source: PTI

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