-The Hindu The National Bank for Agriculture and Rural Development (NABARD), whose funding of corporate warehousing projects on terms far softer than those offered to poor and often suicidal farmers was highlighted by The Hindu last month, has withdrawn its controversial scheme with retrospective effect under pressure from the Reserve Bank of India. The minutes of a meeting of the sub-committee of the NABARD Board held last month confirm that the RBI...

-Frontine Walmart’s disclosure that it spent huge amounts of money on lobbying in India and the allegation that it entered the retail sector through indirect means highlight the power of global capital in dictating the country’s policies. The world’s largest multi-brand retailer Walmart’s disclosure to the United States Senate that it had spent $25 million (Rs.135 crore) since 2008 on its various lobbying activities, which include enhancing access to the Indian...

-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...

-The Times of India The government's probe against Walmart over its lobbying-related disclosure is expected to include identification of alleged beneficiaries of the payments, a move that is aimed at blunting any opposition to foreign direct investment in multi-brand retail. Sources familiar with the development told TOI that the basic mandate given to the retired judge, who will investigate the issue is to ascertain if any portion of the lobbying expenses have...

-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...