Daily Archives: June 3, 2019

India expects US govt to restore benefits under GSP

NEW DELHI: The US pulling the plug on duty concessions on $5.6 billion of Indian exports may not mean the end of benefits under the Generalized System of Preferences (GSP), officials said, citing instances when the benefits were reinstated. “This is not the end of GSP (benefits), possibly because the US has restored the benefits […]

Banks can use Aadhaar for KYC with customer’s consent: RBI

  The RBI specifies Know Your Customer (KYC) norms to be followed by banks and other entities regulated by it for various customer services, including opening of bank accounts. “Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose,” the central bank said […]

Govt may ‘EQUIP’ students with direct fee transfers

NEW DELHI: The Union government is looking at replacing fee subsidy across top educational institutes, like IITs, with direct transfers to students and is planning a national crowd-funding platform to assist students and institutions. A key proposal being considered is a nationwide movement—Each One, Teach One—exhorting each family to support at least one student. This […]

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