-The Indian Express For farmers, a uniform 2 per cent premium rate on sum insured (SI) for all kharif or monsoon season foodgrains and oilseeds, while 1.5 per cent for rabi winter crops and 5 per cent for annual commercial and horticultural crops, is the lowest they can hope for. The country couldn’t possibly have, at least on paper, a better agricultural crop insurance scheme than the Pradhan Mantri Fasal Bima...
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Who's benefiting from crop insurance: SC to government -Subodh Varma
-The Times of India Continuing suicides and intermittent protests by farmers across the country prompted the Supreme Court on Thursday to ask why the much publicised Pradhan Mantri Fasal Bima Yojana (PMBFY) had not provided relief to the hapless farmers. While the government said that it is the first year and they are ironing out the problems, a look at the details of this first year's implementation throws up more systemic...
More »Vague RBI guidelines see banks cap PM's Jan Dhan Yojana accounts -Mayur Shetty
-The Times of India MUMBAI: Crores of Pradhan Mantri Jan Dhan Yojana (PMJDY) account-holders risk either having their accounts frozen or having charges imposed if they exceed four debit transactions in a month. Vague wording of the Reserve Bank of India's guidelines on basic savings bank deposit accounts (BSBDA), which include PMJDY accounts, has led to banks conjuring up ways to cap free transactions. The norms applicable to PMJDY accounts are those...
More »SBI ATM, online, cash transaction fees change from June 1: All you need to know -Ramarko Sengupta
-The Times of India State Bank of India (SBI) has revised service charges on ATM (Automated Teller Machine) withdrawals for users of its mobile app "SBI Mobile Buddy", as well as for various other cash and online transactions, effective from June 1. The country's largest lender will start charging customers Rs 25 per transaction for withdrawing money from an ATM through its mobile wallet app from Thursday. The SBI mobile wallet allows...
More »In loan waivers, 'moral hazard' and continued hope for political gains -Shaji Vikraman
-The Indian Express Urjit Patel has voiced concern publicly over the latest loan waiver — saying it engendered a moral hazard and undermined the honest credit culture. In February 1990, in the months preceding the build-up to the Balance of Payments crisis the next year, Madhu Dandavate, Finance Minister in V P Singh’s National Front government, announced a debt relief scheme for farmers to fulfill a promise made by the alliance in...
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