-The Hindu Even as the Reserve Bank of India (RBI) frets over the high rate of inflation and wards off pressures to cut interest rates, it is faced with another challenge. Balance of payments data for the second quarter of 2012-13 show that the current account deficit continues to rise, and has touched a record 5.4 per cent of GDP. Both of these developments that would be considered signs of “overheating”...
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Poverty decreases sharply in developing world -Adam Thomson
-Financial Times Up to 80 per cent of the world’s middle classes will live in developing countries by 2030 thanks to surprising recent gains in poverty reduction, according to a United Nations report published on Thursday. “Never in history have the living conditions and prospects of so many people changed so dramatically and so fast,” concludes the UN’s latest Development Report. “The world is witnessing an epochal ‘global rebalancing’.” This year’s report, launched...
More »India Post readies plan to start bank -Sidhartha & Saurabh Sinha
-The Times of India The Reserve Bank of India having opened the window for new bank licences, the postal department is finalizing the blueprint to set up a bank of its own at your neighbourhood post office, a move that will challenge the dominance of large public sector lenders in smaller towns and rural India. While the department already has a balance sheet of Rs 6.18 lakh crore, which includes deposits of...
More »Like flowers and chocolates-Sonalde Desai
-The Indian Express Setting up women-only banks overlooks the reasons for their exclusion The women-only bank mentioned in the finance minister's budget speech is like flowers and chocolates — a sweet thought but just as unsubstantial. Financial exclusion of women is a real problem. It deserves far greater effort than sops like a women-only bank. Such a bank also runs counter to the logic of mainstreaming, rather than ghettoising, gender issues. It is...
More »Brinda demands independent probe-Sarabjit Pandher
-The Hindu Communist Party of India (Marxist) Polit Bureau member Brinda Karat on Wednesday demanded an independent inquiry into the Comptroller and Auditor General (CAG) report, which has pointed out serious lapses and wrongdoings in the Rs. 52,000-crore farm debt waiver scheme. Ms. Karat was talking to journalists at the party office here, before resuming her programme of “Sangharsh Sandesh Jatha,” which began from Jallianwala Bagh in Amritsar on March 4. She said...
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