The Reserve Bank of India has agreed to the proposal of the banks’ to allow third party to set up ATM networks. At present the ATMs have to be owned and braded by the banks. Once the proposal is implemented, a third party will create and operate the ATM network.

The banks would then just need to be a member of the network and the customers of the respective banks can avail the ATM services with that particular network.

An official at RBI said, “The central bank will issue draft guidelines shortly on third party ATM management. The guidelines will lay down the conditions, revenue sharing methodology and instructions on how to use.”

A banker said, “RBI maintained that ATM business is a banking business and we can’t allow a third party to do banking business.”

Since the coalition government were formed on the 12^th of May 2010 between the Conservative and the Liberal Democrats, their main priority has been to reduce the deficit. This deficit refers to the gap between the amount of money the government receives and the amount it spends. Previous governments had overspent due to governmental borrowing, further increasing the level of national debt. So when the coalition government was formed, the deficit reduction was on the top of their list of priorities.

This has resulted in a series of public spending cuts, and a tightening of belts both for businesses and the general public. The government decided to cut many public bodies, as well as staff and budgets from local councils in an attempt to curb the amount they were spending. Taxes were raised, especially for those on higher incomes, and other taxes and charges have been included as a way of generating extra money into the government’s coffers.

Despite the apparent need, when cuts are quite severe, this can often have a detrimental effect on the growth of the economy. A

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Young Brits are increasingly viewing the “culture of debt” as a normal part of their student life. However, there are always good ways to save some money.

Data released by money education charity Credit Action has published new figures regarding the financial status of today’s university students;

• Almost two thirds (65%) of youngsters planning to apply to university said they were concerned about their ability to manage and cope with money and finances at university. 
• Almost half of them (46%) admitted they have never had discussions with parents or relatives about personal finance and 27% had never received any form of financial education. 
• Consequently, 27% of respondents mentioned financial issues something which was putting them off the idea of university and only 10% spontaneously cited getting into debt as a fear. 

Saving money tips 

Pay off your student loan ASAP; the interest that you will have to pay from your student loan (between 5 to 6% interest rate) will cost you more than whatever money you aim to save. Therefore

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With Christmas well and truly over many people will now be turning their minds to booking their spring or summer holiday. However, with 2011 having been another difficult year in terms of finances affordability will be a real struggle for some households. The good news is that with the variety of deals on offer consumers can cut back on the cost of their holiday without necessarily having to go without altogether, and exercising some common sense can go a long way in helping you to find some great deals for your 2012 holiday.

There are loads of different options available for those that want to go abroad on their holidays these days, and this means that you can enjoy increased flexibility and the chance to make big savings on the overall cost of your holiday. In fact, it is surprising just how much you can save on the cost of a holiday with a little research and time invested.

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