At a time when the government and regulators are emphasizing inclusion and increase in credit delivery to those without access to formal sources of finance, private sector banks are found to have low credit-deposit ratios in rural areas as compared to public sector counterparts. In a recent interaction at the state-level bankers committee (SLBC) meeting, in which Reserve Bank of India governor D Subbarao was present, bankers brought this to the...
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Defamation and Its Real Dangers
-The Economic and Political Weekly Media freedom is not restricted by one law but by collusion between economic and political power and big media. The defamation case filed in a Pune court by former Press Council chairman justice P B Sawant has drawn attention to the criminal law of defamation and whether it restricts the freedom of the press. Justice Sawant was awarded Rs 100 crore in exemplary damages in the case...
More »‘Disclose confidential financial inspection reports of banks’
-The Deccan Herald In an attempt to usher transparency regarding functioning of the banking sector, the Central Information Commission on Friday directed the Reserve Bank of India (RBI) to reveal the details of Annual Financial Inspection (AFI) reports of banks and also the fines imposed on them based for violating rules. Direction to make public the annual inspection reports of banks was given by Information Commissioner Shailesh Gandhi while he overruled the...
More »Plan panel: UID beneficiaries should pay for enrollments by Surabhi Agarwal & Sangeeta Singh
The suggestion has been made in a note to the cabinet committee on UID project headed by Prime Minister Manmohan Singh The Planning Commission has recommended that the unique identity (UID) programme’s beneficiaries such as public sector banks, insurance companies, state governments and welfare programmes pay for the enrolment of people since the benefits to them will outstrip the costs incurred. The suggestion has been made in a note to the cabinet...
More »What’s Wrong and Right with Microfinance by David Hulme and Thankom Arun
Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...
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