We are a cash-rich company run by professionals,” says a smarmy 30-something Mumbai-based head of a leading real estate company. His company’s exponential growth in the span of just five years has raised eyebrows in industry and banking circles. The reasons are clear. The company is known to have tremendous clout in the corridors of power and with the builders’ lobby. It is backed by several important politicians in Mumbai and...

On the approval and direction of Union Agriculture Ministry to contain stress sale by farmers, the Rajasthan Government will start procurement of fresh bajra produce at Minimum Support Price (MSP) of Rs 880 per quintal in 16 out of 33 districts from November one. Rajfed would buy bajra at 44 procurement centres, while Food Corporation of India at 25 centres, the Food and Civil Supply Minister Babulal Nagar told in a...

At least 5000 farmers of the district's Sadar block will not get insurance claims of their crops that got damaged in drought last year due to wrong assessment report of the officials. A four-member block-level team comprising block agriculture officer, junior statistics supervisor, block cooperative officer and circle inspector had submitted its report after field assessment in four selected areas, which included four large multi-purpose cooperative society (LAMPS) plots in Lohardaga,...

Commission agents to start procuring for Central agency from today Bowing to the pressure exerted by the powerful lobby of commission agents, the Food Corporation of India (FCI) has decided to withdraw its directive to make direct payment to farmers in Punjab, Haryana and Chandigarh. Union Agriculture and Food Minister Sharad Pawar, who was in Chandigarh on Monday, had a meeting with Punjab Chief Minister Parkash Singh Badal and Food and...

Food Corporation of India (FCI) has tied up with a few banks for direct payment to farmers for the grains to be procured in the kharif marketing season 2010-11. "We are firm on our stand and we will try to put direct payment system to farmers into operation from the coming paddy procurement season," a senior official of FCI told media here. FCI has made arrangements with the State Bank...