-Live Mint Cabinet clears proposal to give loans at 7% interest rate, and 4% if SHGs  repay loans within the stipulated period The federal cabinet has cleared a proposal to give loans to women self-help groups (SHGs) at 7% interest rate, cheaper than the existing 11.5-14%, bringing the cost of loans on a par with those given to farmers. SHGs that repay loans within the stipulated period will be eligible for loans at...

-The Indian Express The Congress's bill could end up sponsoring the NDA's campaigns A good thing about the logjam in Parliament, it has to be said, is that it has prevented the ill-advised food security bill from being passed. It would, though, be naive on our part to presume the BJP stalled Parliament - the Congress's blatant abuse of the CBI process was a big reason for this - only because it...

-The Hindu     Minister relaxed tax benefit-related residency norms for foreign investors Finance Minister P. Chidambaram on Tuesday allayed apprehensions over the imposition of wealth tax on agricultural land within urban area limits to provide a big relief to farmers, especially in Haryana and Punjab. Mr. Chidambaram relaxed the tax benefit-related residency norms for foreign investors routing funds through countries such as Mauritius and lowered the withholding tax rate to five per cent from...

-The Indian Express By May 2, Sahara India Real Estate Corporation Ltd (SIRECL) has to prove the "genuineness" of all its investors to the Supreme Court. It has a difficult task on its hands: the name ‘Kalawati' figures 5,984 times on that list, same names appear against different locations, and geography takes a giant leap with ‘Jaipur Nagpur Maharashtra' and ‘187 Aurangabad Lucknow UP' mentioned as addresses. SIRECL had given the list...

-The Indian Express West Bengal is not new to chit fund scams. What is unique to the Saradha Group scandal is how it targeted the poorest and the most marginalised, leaving them on the verge of devastation. From 17-year-old agents who raised money from depositors to 50-year-old widows who invested money, the Saradha Group didn't discriminate in roping them in. Since the house of cards started collapsing, two agents and two...