-The Times of India The Prime Minister is expected to formally kick off cash transfer of subsidies and entitlements, one of the most ambitious policy initiatives of UPA-2, on Monday. The scheme for cash transfers is visualized as a game-changer for UPA-2, like NREGA was for UPA-1, and is expected to give rich dividends at the elections. Manmohan Singh is expected to set January 1, 2013 as the launch date for the...
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RBI Rules Out Introduction of Islamic Banking
-Outlook Kochi: Reserve Bank Governor D Subbarao today ruled out introduction of Islamic Banking in the country but said other methods for channelising funds based on the principles of Islamic law can be looked at. "Islamic Banking is not possible", he said, adding the central bank could look at other vehicles based on Islamic Banking principles to channelise NRI funds. Replying to a question on the issue, Subbarao said: "There are some legal...
More »Pitfalls for subsidy targeting -Subir Roy
-The Business Standard Cash transfer is targeted at the poor, but Aadhaar has no role in identifying the poor The disbursement of subsidies through direct cash transfers is round the corner. It will begin in 51 districts in the new year, just over a month away, and in half the country in four months’ time. So it is important to ask: do we have the capability to take on this job,...
More »Economy to top Parliament agenda: FM
-The Indian Express Ahead of the Winter Session, Finance Minister P Chidambaram on Friday said the government is reaching out to political parties to seek their support for passage of important economic bills. "The Parliament session has a very heavy legislative agenda. We are reaching out to the various political parties to carry through these agenda in the four weeks that we have for the session", he said addressing a press conference...
More »All Kisan Credit Cards To Be Converted to ATM Cards: PC
-Outlook State-owned banks have been asked to strictly adhere to the March, 2014 time-line for converting all Kisan Credit Cards (KCCs) to ATM cards, Finance Minister P Chidambaram today said. "All KCCs will be converted to ATM cards. I have impressed upon all chairpersons of the banks that this time-line must be strictly adhered to," Chidambaram said following a meeting with the chief executives of state-run banks. State-owned lenders were asked to convert...
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