-The Indian Express EC had asked the central bank to relax the weekly bank withdrawal limit from Rs 24,000 to Rs 2 lakh for candidates contesting elections in Uttar Pradesh, Uttarakhand, Punjab, Goa and Manipur. New Delhi: The Reserve Bank of India (RBI) has shot down the Election Commission’s (EC) proposal to relax the weekly withdrawal limit for those contesting the Assembly elections, prompting an angry reaction from the poll panel, which...
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Mihir Shah Committee report recommends a paradigm shift in water management
Against the backdrop of drought that affected most states in the past 2 years, it is essential to take a look at a report on improving water governance in the country, which was submitted to the Ministry of Water Resources in July, 2016. That report, which was prepared by the Committee on Restructuring the Central Water Commission (CWC) and Central Ground Water Board (CGWB) under the chairpersonship of Dr. Mihir...
More »Silently, India's supreme court has set off a chain of events that could torpedo Modi's demonetisation move -Shubhankar Dam
-Quartz India On Dec. 30, 2016, Indian prime minister Narendra Modi cajoled president Pranab Mukherjee into promulgating the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016. Two days later, on Jan. 02, 2017, the supreme court, in a separate matter, delivered a verdict that changed the law of ordinances in powerful ways. It scrubbed out old meanings, unearthed new ones, and further garrisoned judges’ hold on the constitution. A prohibitive change...
More »Towards less-cash agriculture: Well before demonetisation, low credit-driven model came up in Dewas -Vivian Fernandes
-The Financial Express In Madhya Pradesh’s tribal districts of Dewas and Khargone, the NGO, Samaj Pragati Sahayog, discourages cash transactions for agricultural inputs. The interest rates are usurious and vary according to commodities. For fertiliser, it is dheda—loan for the stuff has to be repaid 1.5 times over by the end of the harvest season. For pesticides it is sawa, or 1.25 times. Even barter can be extortionate. One quintal of...
More »Institutional identity of RBI has been damaged: Former Governor Reddy
-The Indian Express Reddy was also critical of the way Governor and Deputy Governors is selected. Mumbai: Former Reserve Bank Governor YV Reddy on Monday said: “The role of central bank in our economy is under threat and it is a national problem which has to be addressed as a national problem”. In an interview to CNBC-TV18 channel, the former Governor also said, “my own suspicion is that the institutional identity of...
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