The Economic Intelligence Council will discuss the issue when it meets at the end of this month The government is likely to form a central agency to regulate so-called multi-level marketing (MLM) schemes after the Economic Intelligence Council found they had become a “preferred” mode of fraud. In the wake of an increasing number of economic offences, the United Progressive Alliance government has also decided to set up a multidisciplinary school...
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Germany strikes deal to tax secret Swiss accounts by David Jolly
—New York Times News Service Switzerland has agreed to a revised tax deal with Germany, with Switzerland to pay billions of dollars on funds hidden in its banks by German tax dodgers. The deal was the latest step in an international charm offensive that is meant to salvage at least some of Switzerland's famous Banking secrecy. The accord, which was tougher to reach after a deal in September was criticised by German...
More »National Rural Mission to link one woman from every poor family to SHGs
-The Hindu “Need for regulatory space for MFIs so they function without affecting SHGs” The National Rural Livelihood Mission (NRLM) would connect at least one woman from every poor household across the country with self-help groups (SHGs) in five years, Union Minister of Rural Development Jairam Ramesh said on Friday. “The objective of the programme is to ensure that in a five-year period one woman from every poor household becomes a member of...
More »Financial Inclusion: The overzealous state is smothering the agenda-MS Sriram
It would be great if the enthusiasm on the financial inclusion agenda gets a pause from the frantic do-gooders . Too many people appear to be enthusiastic about serving the poor - and the kindness is killing. Back in 1956, we discovered that cooperatives were a great instrument to reach out to the poor. These were peoples' institutions, local and would be responsive to the problems of their members. A set of...
More »Self-confidence jab at govt’s ‘intolerance’
-The Telegraph Former chief minister Buddhadeb Bhattacharjee today blamed Mamata Banerjee’s recent expressions of intolerance towards critics on her “lack of self-confidence”. He described as “paglamo (madness)” the new government’s curbs on co-operative banks’ loan recovery processes, saying it would “destroy” such Banking systems. Asked during a TV interview about his successor’s frequent admonitions to the Opposition to keep mum and allow the new government to work, Bhattacharjee said: “It’s not just the...
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