'Bharat Saves' website planned to offer information on financial planning

Google India is planning to develop a website, Bharat Saves, which will offer information on financial planning, reports The Economic Times. Google wants to align its Bharat Saves website to the government's financial inclusion scheme, Jan Dhan Yojana. The digital platform may provide a range of financial literacy tools and information on financial products.

A Google spokesperson told mediapersons that in line with the Prime Minister's vision to create greater financial inclusion and in this process, various BFSI (banking, financial services and insurance) organisations and industry associations are coming together to launch a digital platform. A financial literacy awareness campaign may be part of the plan. Bharat Saves will be an app and website, both of which are being designed by Google. Users, who are logging into the website will need to take a financial literacy test, the certifications for which will be given by the Indian government, Google and an industry organisation. There will be a second section of the app/website, where users will be able to see, compare and purchase banking and insurance products.

The target consumers for this platform will be homemakers, small business owners, the newly employed, retired persons and farmers.

Apple, has also held talks with the government on making Apple Pay, a mobile payment and digital wallet service, a part of financial inclusion programmes.



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Changes in Our Business Model
25th Sept 2020
Greetings from Moneylife Advisory Services
Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
As a result of these changes, IAs, cannot accept fees through credit cards, will have to sign a 26-clause investor agreement, have to maintain physical record written & signed by client, telephone recording, emails, SMS messages and any other legally verifiable record for five years. IAs were already asked to record the suitability and rationale for every piece of advice given, sign them and store them for five years.
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