09 | November | 2013 | Simple Financial Mantras

The Indian Railway’s eWallet is finally live in India. The registration process can be viewed here.

The initial details can be read in my previous post or on the IRCTC website.

10 Key features

01) Without a PAN Number, eWallet facility cannot be used.

02)There is an initial registration fee.

03)The service fee is not refundable.

04)The maximum amount that can be stored in your Rail eWallet is Rs5,000/-.

05)Top-ups in multiples of Rs100/- can be done.

06)2FA (Two factor authentication) is there with the Transaction Password.

07)The Transaction Password will be sent to your registered mobile.

08)A mobile number is compulsory for eWallet transactions.

09)A mobile number cannot be registered to multiple irctc accounts.

10) Your PAN Number is the User Authentication mechanism.

11) The PAN Number is verified online at the time of eWallet registration.

12) A PAN Number can be linked to only 1 eWallet account.

13) The cancelled amount will be refunded to the eWallet account itself.

14) eWallet can be used even when the other Payment Gateways are offline.

What are you waiting for? Go ahead, and register for eWallet now.

Get,Set,Go

Inida’s first all women bank is expected to be launched on November 19, the birth anniversary of former Prime Minister Indira Gandhi.

“We have asked the Election Commission…it (the bank) might be as well inaugurated on November 19. All work has been completed.

“But whether we can do it on November 19, whether we can do it in Delhi or in other city, these are matters my secretary is talking to the Election Commission,” Finance Minister P Chidambaram said at a press conference here.

The government is seeking Election Commission’s nod for launch of the bank, proposed in the Union Budget, as the process of assembly elections in five states, including Delhi, is on.

Bharatiya Mahila Bank, India’s first women’s bank, will not be launched from its headquarter Delhi, but from Mumbai because of the model of conduct for Delhi elections.

Finance Minister P Chidambaram will inaugurate the bank on November 19 in Mumbai.

The United Progressive Alliance government had wanted to inaugurate it in Delhi on November 19, the birth anniversary of former Prime Minister Indira Gandhi, but the Election Commission did not give the permission as Delhi goes to polls on December 5.

Shri Chidambaram will launch six branches – Kolkata, Guwahati, Chennai, Bangalore, Lucknow and Mysore- from Mumbai through a video link. Jaipur and Indore are also ready but will have to wait for the launch owing to the code of conduct for the Assembly elections there.

The public sector Bharatiya Mahila Bank proposes to have 25 branches by March 31, 2014. Bharatiya Mahila Bank’s treasury operations will also be carried out from Delhi.