Indian consumers appear to show zero loss of appetite for cash despite Government’s numerous efforts to wean them away from currency notes and get them to transact digitally. Currency in circulation in India in the fortnight to July 5 was Rs 21.1 lakh crore, as against Rs 18.7 lakh crore in the same period last year, translating into growth of 13%.
Finance Minister Nirmala Sitharaman today said Government has de-registered 4 lakh shell companies as the Lok Sabha approved a bill seeking to tighten CSR norms and ensuring stricter action for non- compliance of the Co law regulations. Piloting the Companies Amendment Bill 2019, the minister said companies not spending the mandatory 2% profit on Corporate Social Responsibility (CSR) activites for a total period of 4 years will be required to deposit the amount in a special account.
RBI Governor Shaktikanta Das has expressed concerns over the impact of stressed trade negotiations and rising geopolitical tensions on global economy while backed the building up of forex reserves by emerging economies as safe-guard against global contagion.
Punjab National Bank today reported a net profit of Rs 1,019 crore as compared to a net loss of Rs 940 crore recorded in the same quarter last fiscal.
The New Delhi-based agri services solutions firm Sohan Lal Commodity Management (P) Ltd said today that it entered into an agreement with SBI for collateral management and warehousing services. As part of the pact, SLCM will act as custodian of the commodities that SBI has taken as a security against loans, said a press statement.
The South Indian Bank has achieved a net profit of ₹73.26 crore in Q1 of FY19, against ₹23.04 crore during the corresponding period of the previous year. The bank’s operating profit has also grown to ₹317.63 crore from ₹269.64 crore.
The Mumbai bench of the NCLT, on Thursday, put a stay on its own order which had allowed the government’s plea to prosecute IL&FS’ erstwhile auditor, Deloitte.
Union Home Minister Amit Shah received a dividend cheque of Rs 15.26 crore from the representatives of the Repco Bank, a multi state cooperative finance and development bank controlled by the Home Ministry. The Repco Bank is a multi state cooperative society established in 1969 by the Central Government for rehabilitation of repatriates from Myanmar and Sri Lanka, an official statement said.
Indian authorities are concerned that WhatsApp’s payment service might share user data with group companies Facebook & Instagram, compromising the security, privacy and non-commercial information of its subscribers. The Government has asked the NPCI to look into the matter and ensure that user data collected through payment services such as WhatsApp and Google Pay is not shared, top officials said.
Muthoot Finance has halted gold loan processing and disbursal in several branches for about 3 days from Thursday. The NBFC did not respond to a query on the likely impact of the halt in gold loan disbursal on its business. It may be noted that the RBI had said earlier this week that it was seeing ‘signs of fragility’ and that it was constantly watching 50 NBFCs, including large ones.
SENSEX 37882.79 (+51.81)
CashaaCommunity Cashaa Bitcoin altcoin altcoin_news Cashaa — Finally, a new innovation of the century is up here! submitted by
People wondering what this token is? Is this a Wallet? Is this a bank? Is this about transferring money? Is this lending / loans or financing?
Or is this just a one other Virtual Currency trading? Well, the answer is ‘Yes’,
to all the questions above. Cashaa
is a next generation banking platform
. So you can relate it now. A Utility token
which can satisfy the banking needs of people across the globe. In Cashaa, we usually say we are “banking the unbanked”.
A statistics shows (you can google it) that around two billion people worldwide do not have a bank account or access to any financial institution. Do you believe that? As I am writing this, I believe the total world population is 7.6 Billion out of which around 25% are children. That brings 5.7 billion people above the age of 15 out of which 2 Billion are unbanked meaning 35% of people are unbanked globally.
Today, there is NO
one solution, one country, one remittance company or one product who can even bank the 65% banked population, forget the unbanked 35%. Here comes “CASHAA”
to rescue the present generations and future generations to come and to offer one stop solution, one product which can serve the humanity. Have you ever thought there can be safe, secure, legal, quick & affording way to send and receive money from anywhere to anyone. Yes, it is gonna be a reality soon
, Cashaa is a utility token basically to send money from “anywhere anyone to anyone anywhere” without even having any knowledge of cryptocurrencies or blockchain or even Cashaa. Yes, it’s true!
If you are a person in UK and if you would like to send money to someone let’s say in Sri Lanka, today both of you (sender & receiver) cannot do it without a local bank account or without going through a Forex exchange and following tedious processes of money transfer especially when it is from one country to another or without any cuts on the money that you send. And finally it’s gonna be days for your loved ones or friends or businesses to receive it on the other end. OMG, have we been sinned to go through this for ever? Here’s the path breaking solution that Cashaa offers wherein the receiver can receive the money from the sender within 30 minutes and offcourse in his/her local currency, legally, safely without owning a single Cashaa token or even knowing about it and without any fee.
One can say that’s what other cryptocurrencies do! Well if you judge a book by its cover, you need to face the reality soon. Yes off-course you can buy say bitcoin through a regulated / unregulated crypto exchange in your country, then transfer it on blockchain across borders who can receive it and then convert it again through local country crypto exchange back to fiat of his/her local currency. Do you think the unbanked population or a lay man can do this at ease? And most importantly will this route be always legal?
Or if you think you prefer to continue with global remittance Forex exchanges you can do so by taking days to transfer and by paying high service fees to the intermediaries. Again this traditional method doesn’t bother about common man / lay man or the unbanked population.
There is just one product which works with both, cryptocurrencies (Yes, even other Cryptos or tokens) and local fiat currencies globally and it is “THE CASHAA”
aiming to bring the people closer. With that being said, the next obvious question is, “Is Cashaa” going against traditional banks or central agencies?
The answer is a BIG NO.
The greatest stability & framework to Cashaa is that it is working with banks & regulatory agencies which are part of its ecosystem. Else this solution would simply not work. A live example is that Cashaa is the first ever ICO rejecting around 14 Million dollars from unverified users to ensure KYC compliance.
Apart from the next generation banking solution, with Cashaa tokens you can store, save, spend, receive, borrow and get insured. It is the only product which shall be complaint, transparent, safe, secure, simple, easy to use and abides by regulation. Mr. Kumar Gaurav is the CEO and the brain behind Cashaa (UK Based Company)
who is a serial entrepreneur and Chairman of Auxesis Group
, India’s first enterprise Blockchain company and his team together brings in 200 years of experience into it.
He is among top 100 most influential people in the world who are leading the evolution of Blockchain and was awarded Extraordinary status (O1 visa) by United States government.
Kumar is a tirelessly working CEO, one of his kind who leads, strategizes and works on ground towards bringing this product into live globally enabling users to send money without any fee anywhere in the world.. He has already brought Cashaa & Auxesis among top 100 blockchain companies in the world.
It is said that Kumar once personally faced the money transfer problem while he was out of his home country which later instigated him to come up with this idea to serve the humanity, “The true Satoshi Vision”. https://www.cashaa.com
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