Organized retail of packed food and raw food reduces prices of food for urban citizens and pays farmers a better price for the agricultural produce. It eliminates middle men and decision making at every other level. This is not rocket science. However, politicians refuse to do away with the WWII public distribution system in order to retain power at the district level. Well, for one thing, the format of the...
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Farmers' suicides reflective of death of rural banking by G Arun Kumar
Since the beginning of December last, 220 tenant farmers in the state have committed suicide or died of shock, crushed by mounting debts and loss of crops. Overall, the farmer death toll stands at a staggering 350-400. Though the fickle weather wreaked havoc, experts believe it's only partly to blame as several other factors have worked against the farming community. While economic expansion continues to bypass the farming community leaving...
More »Manipur journalist held on fake charge: union
A. Mobi Singh, editor of the Sanaleibak newspaper, has been arrested by police commandos posing as representatives of a banned organisation. The All-Manipur Working Journalists' Union said in a statement that Mr. Singh received a call from someone claiming to be a member of the banned armed group, the Kangleipak Communist Party (KCP), on December 28. He wanted to set up a meeting with three members of the union, of which...
More »RBI tracks Money trail
The Reserve Bank of India (RBI) has started investigating the Rs 300-crore fraud by Citibank manager Shivraj Puri after receiving a report from the bank. Officials at Citibank said the RBI had been regularly updated on its internal investigations since the fraud came to light. “We have shared all the details with the RBI. The RBI will now investigate the matter further,” the Citibank official said. An RBI spokesperson confirmed that the probe...
More »Fraud turns spotlight on desi millionaires
Citibank manager Shivraj Puri’s alleged fraud on wealthy clients has swivelled the spotlight on the growing number of high net-worth individuals whose Money banks rush to manage for a fee. The wealth of high net-worth individuals (HNIs) — defined as those who have “investable assets of at least $1 million (around Rs 4.5 crore) — in India is estimated at a staggering $477 billion and is rising each day. According to the...
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