-Down to Earth   Reserve Bank of India refuses to bail out three district cooperative banks Kharif sowing season is close at hand, but around 100,000 farmers of Nagpur, Wardha and Buldhana districts in Maharashtra are unlikely to get agricultural loan or hailstorm relief from the District Central Cooperative Banks (DCCBs) because the Reserve Bank of India (RBI) has rejected banking applications of these banks. Worse, fixed deposits worth Rs 1,716 crore belonging...

-Deccan Herald Behind all the ostentation, glitz and glamour of the recently concluded mega ‘Progressive Agriculture Summit' in Punjab lies the harsh reality of farmer suicides and the burgeoning agrarian crisis that this border state reels under. A state government commissioned study conducted by three prominent universities in Punjab lay bare the magnitude of the crisis. On an average estimate, three persons committed suicide every two days in last one decade in...

-The Hindu Ryots can use it at all bank ATMs to withdraw cash to buy fertilizer or seed TIRUPATI (Andhra Pradesh): ‘RuPay', the multipurpose smart card envisaged to enable payments from various financial institutions to beneficiaries through an impressive network of ATMs, is all set to benefit the farming community more than ever before, said National Bank for Agriculture and Rural Development (NABARD) Chairman Harsh Kumar Bhanwala. Speaking after releasing and distributing the...

-The Hindu The report of the Reserve Bank of India (RBI)-appointed Committee on Comprehensive Financial Services for Small Business and Low Income Households has been placed on the central bank's website for comments. Considering the voluminous nature of the report and even more pertinently its complex and, detailed treatment of the subject, the deadline for receiving comments, now set at January 24, would, in all probability, need to be extended. The report packs...

-The Hindu The report of an RBI-appointed committee on financial inclusion and financial deepening has stimulated a wide-ranging debate on these crucial areas. However, policy measures initiated by the government and the RBI while adding to the numbers of new bank branches, new accounts and so on did not really enhance the quality of such inclusive practices. In September last year, the RBI asked the committee chaired by Nachiket Mor...