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This card meets travel needs based on stored value of money and can be used for travelling by any means of transport and also enables account based retail applications.
Twenty-four of the 98 cities selected are capital cities, while 8 have population of 1 lakh or below. UP, Tamil Nadu and Maharashtra have got maximum nominations.
The delay in passing the law will make it difficult for Prime Minister Narendra Modi to meet a self-imposed deadline of next April 2016 for its launch.
The government has also been directed to ensure that the cards are not made mandatory for citizens to avail any benefit.
The decision is aimed at fast-tracking contracts and implementation of highway projects in the country by making additional funds available for investment.
The funds are Rs 2,000-crore India Aspiration Fund (IAF) and SIDBI Make In India Loan For Enterprises (SMILE) scheme with an investment size of Rs 10,000 crore.
Indirect tax revenue jumped over 37 per cent to over Rs 2.1 lakh crore in April-July of the current fiscal on the back of higher excise duty mop-up.
The market regulator's chairman, U K Sinha said promoters must face penal action on non- compliance of rules by listed firms.
FTIL challenged the decision in the Bombay High Court which ordered status quo on the draft order.
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