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Centre approves the merger, consolidation of public sector banks

-Scroll.in Principal Economic Advisor Sanjeev Sanyal said the government wants to reduce the number of PSU lenders to 10 to 15 from the current 21. The Union Cabinet on Wednesday gave its in-principle approval for the merger and consolidation of public sector banks, reported ET Now. The Cabinet gave the go-ahead to set up a mechanism to carry out such mergers. The move is aimed at improving the efficiency of public...

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Madhya Pradesh to compensate farmers selling at lower than MSP -Milind Ghatwai

-The Indian Express The registration of farmers will begin from September 1. Besides personal details like phone number, bank account details and Aadhaar number, the farmers will have to share details of cultivation and acreage Bhopal: The Madhya Pradesh government is set to roll out a populist scheme to compensate farmers when they are forced to sell their crops below the minimum support price (MSP) in mandis. The move by the...

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How a Bihar NGO siphoned off crores in govt funds under govt nose -- with some help -Santosh Singh

-The Indian Express Srijan Mahila Vikas Sahyog Samiti Limited, providing vocational traiNINg to women and selling pickles, allegedly pilfered funds from Bhagalpur district administration’s various accounts for at least half a dozen welfare schemes. Bhagalpur: Over 10 years and across two governments, of JD(U)-BJP and the RJD-JDU, one Bhagalpur NGO allegedly siphoned off an estimated Rs 700 crore of public funds. NINe FIRs and 12 arrests later, the Bihar government ordered...

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Livestock trade: A business that has stalled -Parthasarathi Biswas

-The Indian Express Only a couple of weeks ago, gaurakshaks impounded a consignment of eight indigenous Gir breed cows that Jadhav had sourced from a farmer in Gujarat’s Amreli district. These animals, whose milk fetches a premium, are currently being housed at a gaushala (cow shelter) near Amreli. Pune: On August 14, Sandeep Jadhav joined protestors outside the Ahmednagar district collector’s office raising voices against the apparently growing attacks on gaurakshaks...

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Economy yet to recover from the body blow of demonetisation, admits Economic Survey -Mayank Jain

-Scroll.in The Economic Survey stated that long term benefits of the exercise are yet to materialise. It is now over NINe months since the government suddenly withdraw 86% of India’s currency in November but India’s Chief Economic Advisor Arvind Subramanian remains unsure if this note ban or demonetisation actually helped any sector of the Indian economy, the latest volume of Economic Survey tabled in Parliament on Friday suggests. The Chief Economic Advisor...

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