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Portable savings account is designed and developed by Varma for new banking system in order to expand it to the ultimate level. This portable bank account can be shifted from any bank to any bank at any time. It is multipurpose savings account with permanent account number
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Vehicle savings accounts hold the ownership rights of all vehicles that move on the surface, on water and in the air. This is the combined ownership rights account for all types of moving vehicles a person owns in the entire country
Touch screen voting machines will be useful for conducting free and fair polls on single day and in single phase for general elections. If touch screen voting machines are used then there will be absolutely no scope for rigging, impersonate voting and all other malpractices in voting process. With the usage of TSVMs counting of votes will be over within one hour on the same day after polling is over. By using TSVMs polling, counting and declaring of results for all constituencies can be completed on the same day of the polling.
The aim of the Mission Swachh Bharat should be to spread cleanliness everywhere and encompass everything - roads, railway tracks, bus stations, railway stations, parks, beaches, shorelines, river banks, reservoirs, lakes, schools colleges, universities and all other public places. 100% Swachh Bharat can be achieved only by the strong will of the government combined with people’s participation and their strong desire to keep their country perfectly clean at all times throughout the year
Banking structure is redesigned to make India a fully digital nation and to usher in 100% e-governance. Banking is expanded to the ultimate level so that many State and Central Government departments can be integrated in the banking system to cut the present government size and non plan expenditure to 1/3 level. Purpose of this new banking structure --------- *To establish a bank branch at every village or colony having population of 2500. Each bank will handle approximately 2000 accounts *To make the banking as intermediary between the Government and people *To give every citizen above age of 15 years a bank savings account. *To integrate the Government and governance in the banking system vertically and horizontally *To know up to date bank profits at any time and to avoid nonperforming assets
Banking structure is redesigned to make India a fully digital nation and to usher in 100% E-governance. Multi dimensional and multipurpose savings account - It is the main keel of this restructured banking. Purpose of this multi dimensional account 1. This savings account can be used for receiving, storing and spending of money. 2. It can be used for buying, selling and holding property rights of immovable properties like lands, plots, flats and commercial establishments. 3. It can be used for buying, selling and holding properties rights of movable properties like vehicles, gold etc. 4. It can be used for buying, selling and holding shares 5. It can be used for getting driving license, passport, birth certificate, voter ID card, ration card, pension, relief funds, subsidies, and compensation. Application of this new restructured banking system:- Banking is expanded so that taxation, tax collections, tax enforcement, tax compliance, registration departments, pass port offices, land registration departments, vehicle registration departments, share transactions, Public distribution system, census department, revenue department can be unified and integrated in this new banking system.
The expanded banking system will help the Election Commission conduct free and fair polling for General elections on single day and in single phase. All elections from panchayats to Parliament can be conducted with the help of expanded banking system with minimum cost and without rigging and impersonate voting.
