-PTI The report noted 31% of multiple account holders (with a bank account in addition to PMJDY) are actively using alternate bank account. New Delhi: Duplication of accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY) is on the rise while 28 per cent of accounts are lying dormant, says a survey by financial inclusion consulting firm MicroSave. According to the survey, conducted in 42 districts spread across 17 states and one union...
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More than Make in India, Jaitley Needs to Focus on Farm in India -Devinder Sharma
-TheWire.in We are in a moment when the global economy shows no signs of revival; Russia and Japan are faced with recession, and emerging economies like Brazil and South Africa are in dire straits. There is no silver lining visible as far as domestic industrial growth is concerned. At such a time, all eyes are on Union finance minister Arun Jaitley to see how he plans to sustain economic growth that...
More »Polavaram is reaping the Jan Dhan benefit -Gunturi Naga Sridhar
-The Hindu Business Line The scheme has made life easier for the people of this Andhra Pradesh village, one of the first in the state to have 100 per cent financial inclusion. But the local experience also throws up a few questions relevant nationally, reports Gunturi Naga Sridhar Fourty-year-old M Ravamma, from Polavaram, a village in the Krishna district of Andhra Pradesh, had a nightmarish experience two months ago. Her husband complained...
More »Growth data send conflicting signals
-The Hindu The latest GDP data released by the Central Statistics Office (CSO) raise more questions than they answer. While on the face of it, the projection of 7.6 per cent growth at constant prices for the fiscal year ending March 31 sounds both attainable and impressive, a closer look at the other sets of numbers, including the third-quarter reading, raises some flags. The pace of economic expansion is estimated to...
More »Raghuram Rajan: No one wants to go after rich and well-connected wrongdoer
-The Indian Express Rajan also raised the issue whether the RBI is taking a lenient view against malpractices in the banking sector and said there’s “a sense that we do not enforce compliance”. Is India a weak state which punishes only the small and weak? RBI Governor Raghuram Rajan who made some plain speaking to his colleagues in the central bank has said “the rich and well-connected wrong-doer” is virtually going scot-free. In...
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