-PTI A total of 6,800 cases of fraud were reported by scheduled commercial banks and some financial institutions in last fiscal, the RBI said in an RTI query. New Delhi: Over 6,800 cases of bank fraud involving an unprecedented Rs 71,500 crore have been reported in 2018-19, the Reserve Bank of India (RBI) has said. A total of 5,916 such cases were reported by banks in 2017-18 involving Rs 41,167.03 crore, it said. As...
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Jagdeep S Chhokar, one of the founders and trustees of Association for Democratic Reforms, interviewed by Ajaz Ashraf (CaravanMagazine.in)
-CaravanMagazine.in India is often hailed for its democracy, for empowering its poor and ordinary citizens to participate in the electoral process and play a role in shaping the country. This narrative has increasingly come under strain since the Supreme Court, through its March 2003 judgment in Union of India vs Association for Democratic Reforms, made it mandatory for candidates contesting elections to disclose their wealth, educational qualification, and criminal cases pending...
More »Rural distress is real: Negative monthly growth of real wage rates witnessed in rural areas for 9 consecutive months, starting from November 2017
Growth in rural wages not only indicates economic prosperity of the masses, it is also considered important so as to generate effective demand for goods and services, which is produced by various sectors of the economy. When money becomes available in the hands of rural workers due to government spending on programmes such as Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), it generates demand for commodities. The production of commodities...
More »PM Fasal Bima Yojana is suffering from low coverage since the last 2 years
The budgetary allocation for Pradhan Mantri Fasal Bima Yojana (PMFBY) as a proportion of total budgetary expenditure has been reduced marginally during the Interim Budget 2019-20. It may have happened because the coverage of gross cropped area under the scheme could not keep pace with the target that was set during the last two years. The Status of Implementation of Budget Announcements 2017-18, which was presented during the Union Budget 2018-19,...
More »There is so much confusion about the Pradhan Mantri Kisan Samman Nidhi Yojana
Against the backdrop of the Finance Minister Shri Piyush Goyal announcing the Pradhan Mantri Kisan Samman Nidhi (PMKSN) programme during his budget speech on 1st February, 2019, it becomes essential to differentiate between 12.56 crore operational holding households (enumerated, as per the Agriculture Census) and 13.33 crore ownership holding households (estimated, as per the 70th round National Sample Survey report no. 571) pertaining to size upto 2 hectares. In his budget...
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