In order to facilitate the move towards cashless transactions, the Government has directed the banks to install an additional one million new PoS terminals by 31st March 2017;. 2,73,919 camps organized to open banks accounts for unorganized labour in which 24.54 lakh accounts opened

In order to facilitate the move towards cashless transactions, the Government has directed the banks to install an additional one million new PoS terminals by 31st March 2017;. 2,73,919 camps organized to open banks accounts for unorganized labour in which 24.54 lakh accounts opened https://www.taxtmi.com/news?id=17033 The Government mandated installation of one million additional Point of Sale (PoS) terminals by 31 March 2017, with banks ordering approximately 600,000 machines and a further 400,000 anticipated, raising the national PoS base from about 1.5 million. Simultaneously, 273,919 outreach camps opened 2.454 million bank accounts for unorganized labour. In response to the demonetization of Specified Bank Notes, banks are facilitating legitimate transactions, actions have been taken against seven Public Sector Bank officials, audits of select branches have been initiated, and concurrent audits are being implemented per RBI guidelines. en-us Wed, 07 Dec 2016 10:07:36 +0530 Wed, 07 Dec 2016 10:07:36 +0530 TaxTMI RSS Generator In order to facilitate the move towards cashless transactions, the Government has directed the banks to install an additional one million new PoS terminals by 31st March 2017;. 2,73,919 camps organized to open banks accounts for unorganized labour in which 24.54 lakh accounts opened https://www.taxtmi.com/news?id=17033 The Government mandated installation of one million additional Point of Sale (PoS) terminals by 31 March 2017, with banks ordering approximately 600,000 machines and a further 400,000 anticipated, raising the national PoS base from about 1.5 million. Simultaneously, 273,919 outreach camps opened 2.454 million bank accounts for unorganized labour. In response to the demonetization of Specified Bank Notes, banks are facilitating legitimate transactions, actions have been taken against seven Public Sector Bank officials, audits of select branches have been initiated, and concurrent audits are being implemented per RBI guidelines. News - Wed, 07 Dec 2016 10:07:36 +0530 https://www.taxtmi.com/news?id=17033