Tuesday, November 1, 2016


10 things to know about Real Estate Regulatory Authority_

*01) Ongoing Projects also to come under RERA*
For ongoing projects without Completion Certificate (CC), developers will have to deposit 70% of the amount collected from homebuyers in a separate bank account within 3 months of registering a project with RERA.

*02) Equal Penalty*
In case of delays, developers will be required to pay compensation to the allottees with an Interest Rate of SBI’s highest Marginal Cost of Lending Rate plus 2%. This effectively means a developer will have to pay interest rates of 11 to 12 % in case of a delay in project delivery.

*03) Imprisonment*
The rules also contain clauses providing for compounding of punishment with imprisonment for violation of the orders of Real Estate Appellate Tribunal against payment of 10% of project cost in case of developers and 10% of the cost of property purchased in case of allottees and agents.

*04) No Discrimination*
Discrimination in sale of properties on any grounds will also not be entertained under the new rules. Adjudicating Officers, Real Estate Authorities and Appellate Tribunals shall dispose of complaints within 60 days

*05) Transparency*
For ongoing projects that have not received Completion Certificate (CC), the developers will have to make public the original sanctioned plans with specifications and changes made later, total amount collected from allottees, money used, original timeline for completion and the time period within which the developer undertakes to complete the project.

*06) Sale on Carpet area*
The promoter shall also be required to declare the size of the apartment based on carpet area even if it was sold earlier on any other basis.

*07) Financial Capacity*
For registration of projects with the authorities, developers will be required to submit authenticated copy of PAN Card, annual report comprising audited profit and loss account, balance sheet, cash flow statement and auditors report of the promoter for the immediate three preceding years, authenticated copy of legal title deed, copy of collaboration agreement if the promoter is not the owner of the plot. The promoter will also has to declare information regarding the number of open and closed parking areas in the project.

*08) Construction Status*
The promoter will also have to upload details regarding number and type of apartments or plots, status of the project with photographs floor-wise, status of construction of internal infrastructure and common areas with photos, status of approvals received and expected date of receipt, within 15 days of expiry of each quarter on the project website.

*09) No Income Tax returns required*
In a departure from the draft rules, the requirement of disclosing Income Tax returns has been withdrawn in the final rules keeping in view the confidentiality attached with them and as pointed out by legal experts and promoters.

*10) Detailed Description on RERA website*
In addition to this, the Real Estate Regulatory authorities will also publish information relating to profile and track record of promoters, details of litigations, advertisement and prospectus issued about the project, details of apartments, plots and garages, registered agents and consultants, development plan, financial details of the promoters, status of approvals and projects etc., on the RERA website.

Tuesday, September 6, 2016

Social Media is an Attraction Management Tool for Political Parties

           Social Media and Indian politics

In the technology-driven world, social media has become the most important medium to connect people from near as well as remote areas-even beyond the boundaries. The social networking sites like #facebook, #twitter, #whatsapp, etc. have proven to be the best means of communication. People vastly use these networking sites to communicate with their friends, family members, relatives etc.

 A majority of the Indian people is witnessing efficient uses of these social media sites for personal, business and political issues. The importance of social media can be seen everywhere. Over few years, the use of the social media sites has influenced Indian Politics too. Marketing managers of political parties take the social media sites as the best marketing and attraction management tool now-a-days.

Social Media and involvement of political parties
Almost all the political leaders have a strong attachment with their followers through these social media sites. They share their views with them by tweeting on the Twitter or by posting information on the Facebook. The best thing is that they also come to know how their followers react to them. This also enables the political leaders to understand their positives and negatives that help them decide changes and implementations accordingly. If we peep into the last few elections conducted in India, the political leaders personally came among the public through these sites, and meanwhile, marketing managers of the poetical parties used the social media as the prime medium to run advertising campaigns.

Social Media's Influence on politics
Social media plays a dominant role to enhance the impact of politics on those who are connected to the networking sites. Past few decades, the majority of working society was almost inactive towards the political issues because they hardly get chances to be aware of them. But now gone are those days, as these social media sites have given common people a close touch with the politics and political issues. On the other hand, political parties and leaders come to know the opinions of common people. Any tweet on twitter or any post on facebook receives a large number of comments from persons from the different societies across India.

             Social Media has changed politics for better and worse 

Like everything in this world, social media also has both bright and dark sides. The bright side of social media reflects with the increased involvement of common people in the politics. The definition of Democracy suggests that democracy is a government of the people by the people and for the people. Social media has brought this concept closer to its practical implementation. As a part of the democratic country, common people in India got a chance to vote only. Apart from it, a voter cannot reach to any level of government or administration with his or her views. But these are social media sites through which everyone can share their views to the public or to the political leaders. Through these social media sites, the common people can better participate in the political issues. 

Monday, June 6, 2016

Biggest Challenges for Starts-up in India

Start-up India program has made the journey from start up to success easier than it has ever been. However it must not suppose that curving a niche in the industry has come completely out of the valley of risks and challenges. After starting up a business, the company or organization has a long run to go. It is not possible to have desirable success without beating challenges. The only persons, who have skills and firm determination to take challenges, can come to it.  In this article, the biggest challenges for start-up in India are to be discussed. 

Sales and marketing is the first thing that becomes the first and foremost factor determining success and failure.  No mater human recourses are available in every corner of India, but the skilled and trained faculties who can bring high performance to the marketing strategies are challenge to be found.     
The weak venture investing system in India is one of the great challenges for entrepreneurs.  Even those people, who have skills and smart mind, are frightened to be a part of this start-up in India. They are feared of not getting desirable success even after investing all what they have.   
When India’s youth has to face numerous problems to survive their family, they hardly have sufficient money to invest in any start-up. They collect hard earned money during a long time span, they are always feared of investing it in new enterprises.
Long and complicated process of loan from financial institutes is a challenge for entrepreneurs when they consider the option of loan to meet their investment problems. Sometimes it is hard to fulfill the bank criteria to get loan. When an entrepreneur has to struggle for managing resources, marketing requirement and other requirement; at the same time he has to go through the long process to get financial help.
Corruption in India also creates challenges for entrepreneurs to start their business. It becomes the monster in the way of startups for entrepreneurs. When it is difficult to maintain all things required for the business; the unnecessarily pressure of red tape system discourages them.
In India where people are living in gossip-loving society, peer pressures are high.  Entrepreneurs have to face criticism from the people around. As Indian love to stick to the traditions ways and they come with criticism when someone tries something different. Such problems generally come in the rural environment that is why people feel hard to maintain heir confidence level to make it up.   They mostly lose their confidence not because of their failure, but the fear criticism.
Education system in India is also one of challenges for start ups. The students after getting educated are not sure to go the right industry. After completing their professional education, they have to look for the opportunities and reliabilities from others.     
Hiring of skilled and trained professionals can be terrible. As an entrepreneur, one cannot offer a large package for efficient and skilled employees, and on the other hand untrained and unskilled employees will not help the organization to lead to destination efficiently.   

Saturday, March 12, 2016

Social Media and Neuromarketing-Winning Marketing Tools for any Organization

Marketing is one of the most dominant factors that determine any organization’s success or failure. Today, in the competitive environment, every business whether it is small or large-scaled one, wants to leave no stone unturned to market their brand, product or services. They come up with all latest marketing trends to take their business to every corner of the world or any particular area they set their target at. Using cutting edge technology in marketing field has given it incredible strength and quickness. User engagement is also one of the main traits of today’s internet marketing ways. It finds sufficient targeted audiences, and also grabs their attention making them engaged for their interest.

Today Social Media Marketing and Neuro marketing have become the first preference for big marketing giants to enrich their marketing strategies. Where Neuro marketing is a way of Marketing Research used to analyze human interest and behavior, in the same way Social Media is a winning tool of marketing that has capabilities to take your business to targeted audiences throughout the world. In every corner of the globe where people have touch with internet, importance of social media marketing can be seen and understood apparently.
With most popular social networking sites such as Facebook, Twitter, LinkedIn, Google Plus and many others, internet has become the best medium to connect audiences from across the world. Today most people are internet savvy and mostly love to be in contact interestingly. For personal and professional requirements, they almost every day come into the contacts with number of their friends and professionals. That is the very reason why both small and big brands use these popular social networking sites as their marketing tool. Social Media Optimization and Search Engine Optimization are basically used to brand a business in the internet market. Daily activities on them take the business message to a large number of audiences who are in touch in the internet.
When it comes to measure the interest and behavior of the audiences, Neuro marketing comes up with cutting edge technology and concept of human brain functionality. Market Researchers use some innovative technologies like functional magnetic resonance imaging (fMRI) to analyze changes in activity taken place in different parts of human brain. The technologies like Steady state topography (SST) and electroencephalography (EEG) to measure brain response in terms of the activity taken place in specific regional spectra of the brain. Apart from that, sensors are used to measure changes in consumers’ physiological state.  

Actually Neuro marketing is a way of marketing research, that helps businesses understand the behavior of their audiences. The research makes it confirmed what audiences actually want, and also what they react to the products and services. This concept of market research helps organizations understand the real picture of the market focusing on their potential audiences. So they develop their strategies accordingly.

Thursday, February 18, 2016

A Brand’s Marketing Strategies are as Strong as Understanding about its Audiences.

Brand’s marketing strategies are as strong as understanding about its audiences. It is very necessary for every company or business to understand what their audiences require, and how they react to what the business brings for them. Understanding about their liking, disliking and psychological behavior help them best understand on how to build their marketing strategies to attract far more number of customers towards the business. Backed by big data, data warehouse, cloud computing and other effective tools, Neuromarketing has become the need of the day in Indian market too. 

Neuromarketing, as its name suggests, can be sometimes misunderstood as a new way of marketing. But it actually is a way of study used to analyze the market including impact of marketing ways on consumers and reaction of consumers to it, so it can be rightly called a new way of marketing research.  This way of marketing research is totally based on brain functionality and human psychological behavior.

These techniques focus on biometrics, such as galvanic skin response, heart rate and respiratory rate to learn about how and why consumers make decisions. These techniques also indicate which brain areas are responsible for this. Most big organizations, particularly those with large-scale ambitions, have started to use Neuromarketing to predict consumer behavior about how they think about their products and services, and what special things they require to satiate their respective requirement. Most of such big companies have built their own laboratories and employed science personnel to predict the market needs.

The concept of Neuromarketing is based on the cutting edge medical technology and the model of thinking part of human brain which involves emotion. Marketing analysts of big companies in India, use neuromarketing to best measure the market requirement and a consumer’s preference. This way of market research gives better result than any verbal surveys done as a part of market research. Neuromarketing can tell marketers how and what the consumer reacts to the color of packaging and the sound a box makes when shaken.  Big Data, cloud computing and data warehouse are some most significant tools of neuromarketing used to make marketing strategies much more effective.

Big data, an effective tool of neuromarketing basically means holding large data about audience that you can build chains of connections between their behavior and events. Really, big data is not only about single databases, but it is about sharing and overlaying lots of databases into a  massive infrastructure of consumer data. In terms of promotional needs, big data helps you better understand about your audience behavior. In a nutshell, Big data, Data warehouse and cloud computing enable brands to predict consumer behavior and to react accordingly with their marketing strategies.

Wednesday, April 8, 2015

Important Factors to Remember which help in Achieving the Goal of Building a Sustainable Organization

R Departments will always play a crucial role in planning and building sustainable Organization. A lot of planning , organizing, directing, controlling, resourcing an outsourcing will go into building sustainable and everlasting organizations Like TATAs, IFFCO, MakeMyTrip, Birlas, Wipro, Flipkart, all are living examples of great organization with highly sustainable business models.

Following important factors to remember which help in achieving the goal of building a Sustainable organization.

  • Never compromise on Recruitment
  • Share information at right time , Right Place and Right hand otherwise worth less
  • Though a bit lesser Qualification and experience always look for progressive, Proactive, and Productive Attitude.
  • Always groom In-house Talent for higher position, rather than recruiting from outside, If you recruit from outside for higher positions every time, it will generate politics which would result in negative. Unproductive and bad time management leading to mess in meeting deadlines. This would also result in unwanted Jealousies, which would mar the office atmosphere spoiling the interpersonal relations. Ultimately business environments and surrounding will effected.
  • Understand about recruitment, make Exercise, and find out Skills Set, Shortlist N Number of resume because a new recruit is raw material personified entered into Organization. He has to be trained to suit the needs of the organization and finally I want to share a single sentence “”Every Employee must be treated as Internal Customer.
  • Encourage and celebrate every moment wherever and whenever you find achievements whether big or small. This will improve interpersonal relations and decreases tension and inhibitions.
  • Control the politics in work culture because Office politics is a major issue in business because the individuals who manipulate their working relationships consume time and resources for their own gain at the expense of the team or company. In addition to this problem, the practice of office politics can have an even more serious effect on major business processes such as strategy formation, budget setting, performance management, and leadership. This occurs because when individuals are playing office politics, it interferes with the information flow of a company. Information can be distorted, misdirected, or suppressed, in order to manipulate a situation for short-term personal gain.
  • HR team should observed Cyber loafing activity - A novel form of workplace deviance has emerged in recent years, as technology becomes a bigger part of people’s work lives. Internet workplace deviance (or “cyber loafing”) has become another way for employees to avoid the tasks at hand this includes surfing the web and doing non-work-related tasks on the internet such as chatting on social-networking sites, online shopping and other activities.

Problem Analysis
  • Analyze performance, what should the results be against what they actually are
  • Problems are merely deviations from performance standards
  • Problem must be precisely identified and described
  • Problems are caused by a change from a distinctive feature
  • Something can always be used to distinguish between what has and hasn't been affected by a cause
  • Causes to problems can be deducted from relevant changes found in analyzing the problem
  • Most likely cause to a problem is the one that exactly explains all the facts

Decision Making
  • Objectives must first be established
  • Objectives must be classified and placed in order of importance
  • Alternative actions must be developed
  • The alternative must be evaluated against all the objectives
  • The alternative that is able to achieve all the objectives is the tentative decision
  • The tentative decision is evaluated for more possible consequences
  • The decisive actions are taken, and additional actions are taken to prevent any adverse consequences from becoming problems and starting both systems all over again
  • There are steps that are generally followed that result in a decision model that can be used to determine an optimal production plan.
  • In a situation featuring conflict, role-playing may be helpful for predicting decisions to be made by involved parties. 

Wednesday, January 7, 2015


Frequently Asked Questions (Faqs)

Q. 1. What is Pradhan Mantri Jan-Dhan Yojana?
Ans. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

Q. 2. How is PMJDY different from the earlier Financial Inclusion Plan (Swabhimaan)?
Ans. PMJDY focuses on coverage of households as against the earlier plan which focused on coverage of villages. It focuses on coverage of rural as well as urban areas. Earlier plan targeted only villages above 2000 population while under PMJDY whole country is to be covered by extending banking facilities in each Sub-Service area consisting of 1000 – 1500 households such that facility is available to all within a reasonable distance, say about 5 Km.

Q. 3. Whether Joint account can be opened in Pradhan Mantri Jan-Dhan Yojana?
Ans. Yes, joint account can be opened.

Q. 4. Under this Scheme, where can I open an account?
Ans. Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet.

Q. 5. What is BSBDA Account ?
Ans. Basic Savings Bank Deposit Account (BSBDA) has been defined by RBI vide its circular dated 10.08.2012. Its salient features are:
  • There is no requirement of minimum balance.

  • The services available include deposit and withdrawal of cash at bank branch as well as ATMs; receipt/credit of money through electronic payment channels or by means of collection/deposit of cheques.

  • Maximum of 4 withdrawals a month including ATM withdrawal. No such limit for deposits.

  • Facility of ATM card or ATM-cum-Debit card.

  • These facilities are to be provided without any extra cost.

Q. 6. Whether there are any restrictions like age, income, amount etc. criteria for opening BSBDA by banks for individuals?
Ans. Any individual above the age of 10 years can open BSBDA Account.

Q. 7. What is RuPay Debit Card?
Ans. Rupay Debit Card is an indigenous domestic debit card introduced by National Payment Corporation of India (NPCI). This card is accepted at all ATMs (for cash withdrawal) and at most of the PoS machines (for making cashless payment for purchases) in the country.

Q. 8. What is PIN Number ?
Ans. Personal Identification Number (PIN) is randomly generated code for use of ATM Card at the time of withdrawal of money from ATM Machine and also at the time of making payment on PoS.

Q. 9. How to keep your RuPay Card safe?
Ans. Beneficiary of RuPay Card is required to keep the Card in safe custody. PIN should be changed at frequent intervals and should never be shared with anyone. While using the card at ATM Machine or PoS, PIN should be entered in machine very secretly so that nobody could even guess about the PIN Number. As far as possible, Card should be used at authorized places / centres only. Besides, PIN number should never be written on the Card.

Q. 10. What is special advantage of RuPay Debit Card?
Ans. It provides accidental insurance cover upto Rs.1.00 lac without any charge to the customer.

Q. 11. Whether illiterate customers can be issued RuPay Card?
Ans. Yes. However, Branch Manager will have to advise all the related risks to the illiterate account-holder at the time of issuance of RuPay Card.

Q. 12. How to link Mobile Number with Bank Account ?
Ans. Mobile Number of an account holder is entered in customer's account in CBS System by the Bank on the basis of information given in the Account Opening Form. Also, for existing accounts, banks permit seeding through ATM, SMS from registered mobile, net-banking or on making a request in the branch (there may be variations depending on the bank).

Q. 13. How to keep debit card operational ?
Ans. To get benefit of Accidental Insurance Cover, RuPay Debit Card must be used at least once in 45 days.

Q. 14. How long the debit card is valid and how to get Debit Card renewed ?
Ans. Debit Card expiry date is mentioned on the Card itself. Account-holder is advised to get issued new card well before expiry date of his/her existing card by giving fresh application to the concerned bank.

Q. 15. If someone has two or more accounts and two or more RuPay Debit Cards, whether accidental insurance cove is available in each account / each card?
Ans. Accidental insurance cover is available only in one account.

Q. 16. What is PoS Machine ?
Ans. PoS stands for Point of Sale. PoS Machine is a small device installed at almost all Business Centres to facilitate cashless purchases to their customers.

Q. 17. Does a person already having a Bank account in any bank needs to open another account under Pradhan Mantri Jan-Dhan Yojna (PMJDY) to get the Accidental Benefit/Life Insurance Benefit under the Scheme?
Ans. A person who is already having a bank account with any bank NEED NOT to open a separate account under PMJDY. He/she will just have to get issued a RuPay Card in his existing account to get benefit of insurance. Credit facility can be extended in the existing account if it is being operated satisfactorily.

Q. 18. What is the concept of overdraft of Rs.5000/- in PMJDY Account and for whom this facility is available?
Ans. Overdraft facility upto Rs.5000/- will be available to one account holder of PMJDY per household after 6 months of satisfactory conduct of the account. To avoid duplication Aadhaar number will also be required. If Aadhaar number is not available then Bank will do additional due diligence and also seek declaration from the beneficiary.

Q. 19. Whether Overdraft facility can be availed in more than one account?
Ans. Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.

Q. 20. What is Accidental Insurance Cover? Who will pay the premium ?
Ans. Accidental Insurance Cover is Rs.1.00 lac and no premium is charged to the beneficiary -- NPCI will pay the premium. At present the premium is Rs.0.47 per Card.

Q. 21. If both husband and wife who are opening accounts under PMJDY are eligible for Accidental Insurance Cover of Rs.1.00 lac and Life Insurance cover of Rs.30,000/- and overdraft facility of Rs.5000/- in both the accounts separately?
Ans. Accidental Insurance cover of Rs.1.00 lac and Life Insurance Cover of Rs.30000/- will be available to all account-holders. However, overdraft facility upto Rs.5000/- will be available to only one person in the family (preferably lady of the house).

Q. 22. What documents are required to open an account under Pradhan Mantri Jan-Dhan Yojana?
Ans. (i) If Aadhaar Card/Aadhaar Number is available then no other documents is required. If address has changed, then a self certification of current address is sufficient.
(ii) If Aadhaar Card is not available, then any one of the following Officially Valid Documents (OVD) is required: Voter ID Card, Driving Licence, PAN Card, Passport & NREGA Card. If these documents also contain your address, it can serve both as "Proof of Identity and Address".
(iii) If a person does not have any of the "officially valid documents" mentioned above, but it is categorized as ‘low risk' by the banks, then he/she can open a bank account by submitting any one of the following documents:
a) Identity Card with applicant's photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;
b) Letter issued by a gazette officer, with a duly attested photograph of the person.
Reserve Bank of India (RBI) vide its Press Release dated 26.08.2014 has clarified as under:
"Those persons who do not have any of the ‘officially valid documents' can open "Small Accounts" with banks. A "Small Account" can be opened on the basis of a self-attested photograph and putting his/her signatures or thumb print in the presence of an officials of the bank. Such accounts have limitations regarding the aggregate credits (not more than Rupees one lac in a year), aggregate withdrawals (nor more than Rupees ten thousand in a month) and balance in the accounts (not more than Rupees fifty thousand at any point of time). These accounts would be valid normally for a period of twelve months. Thereafter, such accounts would be allowed to continue for a further period of twelve more months, if the account-holder provides a document showing that he/she has applied for any of the Officially Valid Document, within 12 months of opening the small account.

Q. 23. If the present address is different than that of printed on Aadhaar Card, can the account still be opened under Pradhan Mantri Jan Dhan Yojana on the basis of Aadhaar Card?
Ans. If address has changed, then a self certification of current address is sufficient.

Q. 24. What is meant by Insurance cover of Rs.30,000/- announced by Prime Minister in his speech of 28.08.2014?
Ans. Modalities of this Scheme announced by the Prime Minister on 28.08.2014 are being worked out expeditiously and will be disseminated to General Public very soon.

Q. 25. Whether Cheque Book will be issued in accounts opened under PMJDY?
Ans. In PMJDY accounts are being opened with Zero balance. However, if the account-holder wishes to get cheque book, he/she will have to fulfill minimum balance criteria, if any, of the bank.

Q. 26. What are the direct / special benefits attached to PMJDY?
Ans. Special benefits attached to the scheme are:
  • Interest on deposit.

  • Accidental insurance cover of Rs.1.00 lac

  • No minimum balance required. However, for withdrawal of money from any ATM with Rupay Card, some balance is advised to be kept in account.

  • Life insurance cover of Rs.30,000/-

  • Easy Transfer of money across India

  • Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.

  • After satisfactory operation of the account for 6 months, an overdraft facility will be permitted

  • Access to Pension, insurance products.

Q. 27. I have no official valid document for opening an account. Can I still open an account with bank?
Ans. Reserve Bank of India (RBI) vide its Press Release dated 26.08.2014 has clarified as under:
"Those persons who do not have any of the ‘officially valid documents' can open "Small Accounts" with banks. A "Small Account" can be opened on the basis of a self-attested photograph and putting his/her signatures or thumb print in the presence of an officials of the bank. Such accounts have limitations regarding the aggregate credits (not more than Rupees one lac in a year), aggregate withdrawals (nor more than Rupees ten thousand in a month) and balance in the accounts (not more than Rupees fifty thousand at any point of time). These accounts would be valid normally for a period of twelve months. Thereafter, such accounts would be allowed to continue for a further period of twelve more months, if the account-holder provides a document showing that he/she has applied for any of the Officially Valid Document, within 12 months of opening the small account.

Q. 28. How much interest savings would earn in PMJDY Account?
Ans. Interest rate applicable for Saving Bank Accounts (presently @ 4 % in most of the banks) shall be admissible to accounts opened under PMJDY Scheme.

Q. 29. How much interest will be charged by bank on overdraft facility in PMJDY?
Ans. Base Rate + 2 % or 12 %, whichever is lower. At present it will be 12 %.

Q. 30. Whether banks will be organizing Account Opening Camps in future also?
Ans. Yes. Nationalised banks have been asked to organize camps on all Saturdays from 8.00 AM to 8.00 PM. Banks can hold additional camps on other days also.

Q. 31. If I have required papers for issuance of Aadhaar Card, can I get Aadhaar Card in Bank and open my account under PMJDY simultaneously?
Ans. Aadhaar Registration may be got done in Camps organized by UIDAI. In account opening camps also, endeavour is to make Aadhaar Registration Counter available.

Q. 32. Do you have to pay some fee to open a Bank account under PMJDY?
Ans. No. There is absolutely no charge / fee for opening an account under PMJDY.

Q. 33. Can a minor (below 18 years of age) can open an account under PMJDY?
Ans. A minor of above the age of 10 years can open his / her Savings Bank account in any bank.

Q. 34. Who is Business Correspondent Agent / Bank Mitra and what is their role in PMJDY?
Ans. Business Correspondent Agents (Bank Mitras) are retail agents engaged by banks for providing banking services at locations where opening of a brick and mortar branch / ATM is not viable. Scope of activities of Business Correspondents / Bank Mitra are as under:
a) Creating Awareness about savings and other products and education and advice on managing money and debt counseling.
b) Identification of potential customers.
c) Collection and preliminary processing of various forms for deposits including verification of primary information /data.
d) Filling of applications / account opening forms
e) Collection and payment of small value deposits and withdrawals.
f) Receipt and delivery of small value remittances / other payment instructions.
g) Furnishing of mini account statements and other account information.
h) Any other service on behalf of the Bank, duly authorized by the appropriate authority etc.

Q. 35. How Bank Mitr helps us to use Banking Services ?
Ans. Bank Mitr represent the bank concerned and enable a bank to expand its outreach and offer limited range of banking services at low cost, particularly where setting up a brick and mortar branch is not viable. Bank Mitrs, as agent of the Bank, thus are an integral part of the business strategy for achieving greater financial inclusion.

Q. 36. Who can be Bank Mitr ?
Ans. Banks have been permitted to engage individuals / entities as Business Correspondent (Bank Mitrs) like (i) Retired Bank Employees (ii) Retired Teachers (iii) Retired Govt. Employees (iv) Ex-Servicemen (v) Individual owners of kirana / medical/ fair price shops, individual Public Call Office (PCO) operators, Agents of Small Savings Scheme of Government of India / Insurance Companies, ‘for profit' companies registered under the Indian Companies Act. Since 24.06.2014, RBI has permitted Non Deposit taking NBFCs as BCs in addition to above.

Q. 37. Can I get my PMJDY account transferred to other City / State upon my transfer posting to other States?
Ans. All banks participating in PMJDY are on CBS (Core Banking Solution) platform and the account can easily be transferred to any branch of the bank in any city/town as per the request of the account-holder.

Q. 38. What is USSD based transaction and how to use it ?
Ans. USSD is abbreviated form of "Unstructured Supplementary Service Data". USSD based Mobile Banking offers basic Banking facilities like Money Transfer, Bill Payments, Balance Enquiries, Merchant Payments etc. on a simple GSM based Mobile Phone, without the need to download application on a Phone as required at present in the Immediate Payment Service (IMPS) based Mobile Banking. Transactions can be performed on basic phone handsets. The user needs to approach his bank and get his mobile number registered. The bank will issue an MPIN (Mobile PIN) to the user. The user thereafter needs to dial *99# and the menu for using USSD opens. Thereafter customer has to follow selections on the menu to complete the transaction. Charges as applicable by the Telecom Operator (not more than Rs.1.50 per transaction as mandated by TRAI) may be applicable.