Basic Savings Account in Post Offices:
The amendments to the postal savings account programme for 2019 were recently announced by the Ministry of Finance. Beneficiaries of government welfare programmes can now open simple savings bank accounts at any post office in the country, according to the Ministry of Finance.
Highlights:
♦ You can open an account with the Indian Post Payment Bank or a commercial bank of your choice. The account can be opened with no money down.
♦ The beneficiary of every government benefit package should open the account. The account should also be opened by the minor`s beneficiary. Minors, on the other hand, must nominate a guardian.
♦ The new notice excludes basic savings accounts established under the 1981 post office savings account law.
♦ The account was set up under the Pradhan Mantri Yojana. A simple savings account is the Jan Dhan Yojana. A total of 422,000 accounts have been created so far. They currently have a 14.5 crore rupee balance.
♦ A simple savings account is the post office savings account. The minimum amount required to open an account is 500 rupees. The minimum deposit is ten rupees, and there is no limit to the amount you can deposit.
###Impact of Covid-19 Pandemic on Jamakkalam Weavers:
The Covid pandemic has had a negative effect on GI-labeled Bhavani jamakkalam development.
Highlights:
♦ Bhavani Jamakkalam refers to blankets and rugs made in Bhavani, Tamil Nadu`s Erode District.
♦ The Indian government has recognised it as a geographical indication.
♦ Geographical indicators (GI) are symbols that appear on goods with a particular geographical origin and a quality or reputation that can be traced back to that origin.
♦ Many goods, such as agricultural products, food, wine and spirits, handicrafts, and industrial products, use geographical indications.
♦ Darjeeling tea was the first commodity in India to receive a Geographical Indication (GI) code.
♦ A geographical indication`s registration is valid for ten years, after which it must be revised. Geographical indications (Registration and Protection) of Commodities Act 1999 governs geographical indications in India.
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