The Smart Card Project is helping nearly 12.7 million poor people in Andhra Pradesh to get timely payment of wages It was conceived as a vehicle to promote financial inclusion by taking banking services to the unbanked poor, harnessing information and communications technology to ensure the benefits of public welfare programmes reach those they are intended for by plugging leakages. The Andhra Pradesh Smart Card Project, launched in 2007, is...
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Reversing reforms? by Malini Bhattacharya
The beneficiaries of the land reforms in West Bengal get pushed out of their land under the new regime. MOGHAI MUNDA is dead. No one is there to mourn him but his distraught parents and his young wife who seems to have lost her power of speech. But it is a significant death, even if it is ignored by the ubiquitous media and, therefore, by the world at large. Like the...
More »Reading between the Rs32 poverty line
-The Hindustan Times Do these people look well-off to you? The planning commission puts them above poverty line. Basant Kumar, 51 Shopkeeper Kusumpur Pahari slum, Vasant Vihar, Delhi Daily expense: Rs 53 Basant Kumar runs a little shop in a slum in Vasant Vihar, home to over two lakh migrant families. He feeds and clothes his wife and three children on his meagre earnings of Rs5,000 a month. He also works odd-jobs, in construction or with...
More »Aadhaar alone isn’t enough for a full-fledged bank account by Surabhi Agarwal, Remya Nair & Anup Roy
The finance ministry may have amended the Prevention of Money Laundering Rules, 2005, to notify Aadhaar as adequate to meet KYC norms for opening bank accounts, putting it alongside other identity proofs, but banks are still confused Is a unique ID number or Aadhaar number issued by the Unique Identification Authority of India (UIDAI) enough to satisfy the so-called know-your-customer (KYC) norms that banks have to ensure every account they open...
More »Warehouse norms may lessen food inflation by Anirudh Laskar & PR Sanjai
The proposed regulations aim to create a new countrywide infrastructure for trading of commodity-based securities in the form of electronic receipts as with equity shares on exchanges A committee under the Warehousing Development and Regulatory Authority (WDRA) has recommended regulatory changes that can effectively control prices of food items, improve lives of farmers and change the warehousing landscape in India. The proposed regulations, drafted in consultation with the capital market regulator, the...
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