It would be great if the enthusiasm on the financial inclusion agenda gets a pause from the frantic do-gooders . Too many people appear to be enthusiastic about serving the poor - and the kindness is killing. Back in 1956, we discovered that cooperatives were a great instrument to reach out to the poor. These were peoples' institutions, local and would be responsive to the problems of their members. A set of...

-The Telegraph Former chief minister Buddhadeb Bhattacharjee today blamed Mamata Banerjee’s recent expressions of intolerance towards critics on her “lack of self-confidence”. He described as “paglamo (madness)” the new government’s curbs on co-operative banks’ loan recovery processes, saying it would “destroy” such banking systems. Asked during a TV interview about his successor’s frequent admonitions to the Opposition to keep mum and allow the new government to work, Bhattacharjee said: “It’s not just the...

-The Hindu Repayment of all cooperative crop loans to be staggered The State government on Tuesday announced in the Legislative Assembly that there would be waiver of land revenue collection in all the 123 drought-hit taluks encompassing 24 districts of the State, with immediate effect. Chief Minister D.V. Sadananda Gowda, replying to a discussion (initially sought to be taken up as an adjournment motion) on the drought which was brought on by deficient...

 The Comptroller and Auditor General (CAG) is giving final touches to two reports where it has pointed out anomalies in allocation of funds under the centrally-runJNNURM scheme and UPA government's debt waiver to farmers in 2008, something the opposition may use as a stick to beat the government during the budget session.  In the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), the CAG, sources said, is reviewing how central funds were...

The Rs.3,884-crore package for the handloom sector, which includes one-time waiver of overdue loans and interests, approved by the Union Cabinet, is expected to benefit about 3-lakh weavers and 15,000 cooperative societies, which would have access to institutional credit once again. However, the package will benefit only those who took loan before March 31, 2010. “There would be many weavers who had no access to institutional credit in the past and...