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Tag: Uttarakhand

  • Saudi Aramco executive jailed for one week in Chamoli for carrying satellite phone

    Saudi Aramco executive jailed for one week in Chamoli for carrying satellite phone

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    After being arrested in July for carrying a satellite phone without permission from authorities while on vacation, a senior executive of Saudi Aramco spent nearly a week in custody in Uttarakhand. He was released after paying a Rs 1,000 fine.

    According to Fergus MacLeod, Saudi Aramco’s head of investor relations, he was arrested on July 12 at his hotel in the Valley of Flowers National Park. The 62-year-old man was imprisoned in Chamoli until July 18.

    Authorities detained the British executive after obtaining the coordinates of the phone, which MacLeod claims he turned on and off at his hotel but did not use while on vacation with friends, some of whom were Saudi Aramco colleagues.

    A part of Chamoli district is located along the Line of Actual Control with China.

    Without government permission, foreign nationals are not permitted to own or operate satellite phones in India. Satellite phones, which receive signals from satellites rather than terrestrial towers like cellphones, were used by terrorists during the 2008 Mumbai attacks, prompting the bans.

    MacLeod, who has led investor relations at Saudi Aramco since 2017, told the Financial Times that he was unaware of the ban and had passed through two Indian airports while openly carrying the phone without being stopped by security.

    Narendra Singh Rawat, a Chamoli police officer, confirmed MacLeod’s arrest. Rawat stated that the executive had carried the phone “by mistake.”

    MacLeod stated that he purchased the device legally in the UK in 2017 for personal use and carried it with him while travelling in the Saudi desert in case of an emergency in remote areas with poor mobile phone signal.

    “It was a frightening place and a highly traumatic experience, where I was in a communal cell with long-term prisoners who had committed very serious crimes,” said MacLeod.

    MacLeod, who complied with authorities, claimed that his friends secured his release from jail by posting bail on his behalf. He couldn’t leave the nation, though, until after a court hearing on July 27, when he pleaded guilty and paid a Rs 1,000 ($12) fine.

    This comes at a time when Saudi Arabia seeks to strengthen ties with India, which is becoming an increasingly important buyer of Saudi crude oil as the country’s middle class expands. MacLeod, who previously worked as the head of investor relations at BP and as an oil analyst at Deutsche Bank, was hired by Saudi Aramco to help professionalise its operations and management structures ahead of its historic IPO in 2019.

    Also Read: Huawei Telecommunications India CEO tells court that he is a Chinese, not a terrorist

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  • PM Modi launches 75 digital banking units. Here’s how they will work

    PM Modi launches 75 digital banking units. Here’s how they will work

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    Prime Minister Narendra Modi on Sunday dedicated 75 digital banking units to the nation, taking forward a promise that Finance Minister Nirmala Sitharaman had made during the 2022-23 Union Budget. The project is in line with the Centre’s ambitious goal of financial inclusion. 

    In a virtual address which was attended by Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das, PM Modi said: “As our country witnesses the success of another digital milestone today, I congratulate the collective efforts of our countrymen. These Digital Banking Units will empower digital services and provide a robust digital banking infrastructure for the country.”

    These banking units will improve banking and financial management, promote transparency and also promote financial inclusion, he said.

    Also read: No charges on RuPay credit card use for transactions up to Rs 2,000

    The Prime Minister inaugurated two such units in Jammu and Kashmir Bank – one is the SSI branch at Lal Chowk in Srinagar and the other is the Channi Rama branch in Jammu.

    FM Sitharaman in her Union budget speech for 2022-23 had said the government would set up 75 DBUs in 75 districts of the country to commemorate the 75 years of independence of our country.

    Today, PM Modi said fintech will revolutionise financial inclusion in the country. He said that even the World Bank has lauded India’s efforts in ensuring social security through digitisation. “World Bank says that India has become a leader in ensuring social security through digitisation. Even the most successful people in the field of technology, the experts of the tech world are appreciating this system in India. They too are amazed by its success,” he said.

    What are Digital Banking Units?

    Digital Banking Units are specialised fixed point business units that will provide a variety of digital banking facilities to people such as opening a savings account, account balance check, printing passbook, funds transfer, fixed deposit investments, loan applications, application for credit or debit cards, and bill and tax payments, among others.

    Eleven banks in the public sector, 12 in the private sector, and one Small Finance Bank are participating in the endeavour. 

    Also read: PhonePe moves its businesses, subsidiaries from Singapore to India

    Private sector lender ICICI Bank today announced the launch of four DBUs in Dehradun city of Uttarakhand, Karur in Tamil Nadu, Kohima in Nagaland, and Puducherry. Jana Small Finance Bank launched two DBUs in Bihar and Jharkhand. HDFC Bank launched its units in Haridwar, Chandigarh, Faridabad, and South 24 Parganas of West Bengal.

    In a statement, ICICI bank stated that their DBUs will have two distinct areas: a Self-service Zone and a Digital Assistance Zone. The Self-service zone will house an ATM, a cash deposit machine (CDM), and a Multi-Functional Kiosk (MFK), which would offer services like printing passbooks, depositing cheques, and accessing internet banking.

    There will be a Digi Branch Kiosk, which will offer all services available on mobile banking apps. This will also have a digital interactive screen where customers can interact with a chatbot in order to find product offers and mandatory notices. The self-service zone will be operational 24X7.

    On the other hand, the Digital Assistance Zone will have branch officials to assist customers to undertake various financial and non-financial transactions such as the opening of savings accounts, current accounts, fixed deposits, recurring deposits, availing of home loans, auto loans, personal loan, applying for a credit card, and others. These services will be offered in a completely digital manner through a tablet device, using Aadhaar-based eKYC.

    Also read: What is UPI Lite and how to set it up on BHIM app

    HDFC bank’s DBU will have a self–service zone for customer transactions using interactive ATMs, cash deposit machines, interactive digital walls, net banking kiosks/video calls, and tab banking. Mostly in self-service mode, services will be available round-the-clock all year round. There will also be an assisted zone in a DBU manned by two bank staff.

    Other services available at HDFC digital units are: Account Opening – Fixed Deposit & Recurring Deposit, Digital Kit for customers: Mobile Banking, Internet Banking, Debit Card, Credit card and mass transit system cards, Digital Kit for Merchants: UPI QR code, BHIM Aadhaar, PoS, MSME or schematic loans, End-to-end digital processing of such loans, starting from online application to disbursal, Identified Government sponsored schemes which are covered under the National Portal, Cash withdrawal and Cash Deposit through ATM and Cash Deposit Machines, Passbook printing / Statement generation, Issuance / processing of Cheque Book request, receipt and online processing of various standing instructions, Transfer of funds (NEFT/IMPS), Updation of KYC / other personal details, Atal Pension Yojana (APY), 15 Insurance onboarding for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). 

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