-The Hindu   Moratorium to be in place till December 31, 2012 The government has decided to initiate legal action against cooperative banks and financial institutions violating the moratorium on debt relief for fish workers. Meeting Minister for Fisheries K. Babu announced this after a meeting with Minister for Cooperation C.N. Balakrishnan and chairman of the Debt Relief Commission for fish workers M.R. Hariharan Nair here on Sunday. Mr. Babu said the moratorium would remain in...

LUCKNOW: In a significant order passed by the Central Information Commission, inspection reports of banks can be disclosed under the RTIAct. And, the Reserve Bank of India cannot deny disclosing the report stating that it can have ill-effects on the economy. The CIC's order came in a case pertaining to Kanpur-based United Mercantile cooperative Bank Ltd. in its order, the CIC stated that the Reserve Bank of India (RBI) should disclose...

The government is thinking of letting the states cherry pick the central schemes for rural welfare, a step back from centralized decision-making that it hopes could help quell the accusations that Centre was weakening the federal structure. The idea behind the 'flexifund route' is to allow states the freedom to decide rural development schemes they want to implement and how much of allocation should each get. It would mark a departure...

Central bank sold its majority stake in Oct 2010; change will ensure entire equity  is held by the govt The government will amend a law governing the National Bank for Agriculture and Rural Development (Nabard) to allow the Reserve Bank of India (RBI) to sell its 1% stake in the development lender. The central bank sold its majority stake in the lender to the government in October 2010. The government owns 99%...

I recently wrote in this column about two cases where individual efforts to fight corruption and inefficient system brought results. Alas, it is fraught with difficulties and sometimes danger. Manjulaben Vaghela lives in Pardhol village in Dascroi taluka. She for past four years has been trying to get an electricity connection for her chhapra. Starting with the GEB, she has appealed to everyone concerned including the CM's secretariat. This has caused her...