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54.58 Crore Jan Dhan Accounts Established, 55.7% Held by Women: Government Reports

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As of January 15, a total of 54.58 crore Jan Dhan accounts have been opened, with women accounting for 30.37 crore (55.7 percent), according to the government’s announcement on Monday.The National Mission for Financial Inclusion (NMFI), launched through the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014, aims to provide universal banking services to every unbanked household. It operates on key principles including banking the unbanked, securing the unsecured, funding the unfunded, and serving unserved and underserved areas, all with a strong emphasis on women’s empowerment.

To further enhance financial inclusion, the PMJDY scheme was extended beyond August 14, 2018, shifting the focus from “every household” to “every unbanked adult.”

The NMFI has also enabled women to access various social security and credit-linked schemes, as noted by the Ministry of Finance. A robust network of approximately 1.3 million banking correspondents (BCs) plays a critical role in connecting eligible individuals to financial inclusion programs.

To promote the accessibility and usability of digital financial services, 107 digital banking units (DBUs) have been established by banks (as of December 2024) to ensure that the benefits of digital banking reach every part of the country. These units provide services like opening savings accounts, printing passbooks, transferring funds, and processing loan applications.

Ensuring accessibility for women, rural communities, marginalized groups, and underprivileged populations, the government is implementing various measures including assigning targets to all banks for each scheme, organizing camps and specialized awareness campaigns, and conducting periodic performance reviews. All banks, including private institutions, are actively participating in these efforts to maximize the effectiveness and reach of these programs.

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The government, in collaboration with state authorities, is continually working on initiatives to tackle challenges such as low enrollment and a lack of awareness related to financial inclusion schemes in the country.

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RBI Ends Special Dollar-Rupee Swap Window Early Amid Strong Demand

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Mumbai: The Reserve Bank of India (RBI) has decided to close its special forex swap facility for fresh FCNR deposits early.

The facility will now close on August 31, the RBI said on Friday.

The central bank said the decision was taken after receiving an encouraging response. The facility has attracted $52.3 billion through fresh foreign currency deposits.

Banks can continue to undertake swaps with the RBI against FCNR deposits raised under the facility until September 11.

Meanwhile, the schemes for External Commercial Borrowings and Overseas Foreign Currency Borrowings will remain open until December 31, 2026.

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The RBI launched the special US dollar-rupee forex swap facility on June 8. It allowed banks to raise fresh three-to-five-year FCNR deposits.

Banks could then swap these deposits with the RBI at a concessional rate. The facility effectively covered the entire hedging cost for banks.

The strong response to the scheme led the RBI to bring the facility to an early close.

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Leksa Lighting Technologies Named among India’s Top 100 MSMEs

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Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.

The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.

Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.

The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.

Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.

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What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.

Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.

He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.

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The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.

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Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.

 

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Vehicle Prices to Increase from August 1

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New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.

The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.

As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.

The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.

Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.

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The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.

Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.

 

 

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