-Outlook Jaipur: Describing the proposed Direct Cash Transfer scheme a 'pure magic' that brings a big responsibility on banks for its implementation, Finance Minister P Chidambaram today asked bankers to work with the government to make the scheme a success. "Through this unique benefit transfer scheme, money when it is released, will instantaneously be credited in the bank account of the beneficiary, leaving no scope for corruption and pilferage. That is why...
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Lok Sabha paves way for setting up more banks
-PTI Parliament on Thursday paved the way for corporate houses to enter the banking sector by approving the banking bill, a key reform legislation pending for long. Parliament also passed the amendments to the debt recovery laws or Sarfesi law after a reply by finance minister P Chidambaram on the combined discussion on the two bills in Rajya Sabha. These two Bills -- Banking Laws (Amendment) Bill, 2012, and Enforcement of Security Interest...
More »Rural men don domestic roles, thanks to SHG initiatives -G Naga Sridhar
-The Hindu Business Line Can you imagine many men who never donned domestic roles are now sharing household works in rural India? This is one of the findings of a national study, conducted on the impact of self help groups in the last two decades, which Union Minister of Rural Development Jairam Ramesh has released here. Finance and managment The study, conducted by the National Network of Enabling Self Movement (Enable) in eight States...
More »Loans at 7% to Women SHGs From 2013: Ramesh
-Outlook Hyderabad: Union government is all set to provide loans to women self help groups (SHGs) at the rate of seven per cent from April 1 next year and at four per cent to the target group in 150 selected districts, Union Minister for Rural Development Jairam Ramesh announced here today. "Loans will be extended to Self Help Groups at 7 per cent from April 1 while in another 150 districts, selected...
More »As farmers suffer, NABARD offers soft loans to corporates-Shalini Singh
-The Hindu Private companies get loansat 6.5% with additional cash refunds; for farmers it is 7% The National Bank for Agriculture and Rural Development (NABARD), which is dedicated to promoting rural development by providing soft loans to State governments for social sector projects, has given hundreds of crores as loans to corporates on concessional terms. In the Union Budget of 2011-12, Rs. 18,000 crore was allocated by the Centre to NABARD’s Rural Infrastructure...
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