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3:21 pm - Thursday March 18, 0877

No poor shall be deprived of benefits for want of Aadhaar: Ravi Shankar

Agencies, New Delhi

Union minister Ravi Shankar Prasad on Wednesday said no poor person shall be deprived of welfare measures just because he or she does not have an Aadhaar card, adding that the Centre has issued directives to all state governments in this regard.

The remarks of the Union Minister of Electronics and Information Technology came in the wake of recent reports of deaths because of starvation, as the deceased reportedly did not receive ration for months due to non-linkage of their ration card with Aadhaar.

Talking about privacy concerns of Aadhaar, Prasad told reporters that Aadhaar card were safely encrypted and there was nothing to worry about the privacy of data. “Law is tough.

Aadhaar is governed by laws passed by Parliament and any violator would face strict punishment, ranging up to fine of Rs 10 Lakh or even seven-year imprisonment,” he said. Prasad also said that to date, 32 crore bank accounts had been linked to Aadhaar.

Home, Auto loan EMIs set to get cheaper

Mumbai: India’s largest lender State Bank of India (SBI) on Thursday announced reduction of interest rates on home and automobile loans by five basis points (bps). In a statement issued here the bank said, it has reduced home loan interest rates to 8.30 per cent.

Similarly, automobile loan is now offered at a starting interest rate of 8.70 per cent per annum compared to earlier 8.75 per cent. With this reduction, SBI’s offering in home loan is the lowest in the market.

The new rates will be effective from November 01, the SBI claimed. The effective interest rate for all eligible salaried customers will be 8.30 per cent per annum for loans upto Rs 30 lakh.

Rates have been reduced by five bps in all the brackets. Over and above of 8.30 per cent rate, an eligible home loan customer can also avail of an interest subsidy of Rs 2.67 lakh under the Pradhan Mantri Awas Yojana scheme.

For car loan customers, the loan amount ranges from 8.70 per cent per annum to 9.20 per cent per annum compared to earlier range of 8.75 per cent to 9.25 per cent. The exact rate depends on the amount of loan and the credit score of the individual.

Posted in: Featured, Nation

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