-The Hindu Business Line A mint-fresh working paper by the Reserve Bank of India once again trains the spotlight on a problem that, for five decades, every policy-maker has planned to snuff out, failed to, and then wished it would go away if ignored. But financial exclusion simply hasn't, and we now have the central bank applying its forensic skills to an examination of its magnitude. The title of Working Paper Series...
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Banks under fire for Saradha mess -Srikumar Bondyopadhyay
-The Times of India KOLKATA: It's not only Cobrapost that seems to be stinging public sector banks. State-owned banks have come under fire and are accused of being hand-in-glove with willful defaulters like Ponzi kingpin Sudipta Sen. In a 25-page statement that the CBI deems a confession, Sen has detailed how he acquired Global Automobiles, a company with a bank debt of Rs 186 crore. Formed in 2005, the company's owner Shantanu...
More »Kisan Credit Cards: Bad loan bubble waiting to burst?-Dinesh Unnikrishnan
-Live Mint Subsidized loans given to farmers through KCCs could very well be the next big source of NPAs for banks Mumbai: A surge in exposure to farm debt through Kisan Credit Cards (KCCs) could emerge as a risk for India's state-run banks, according to experts. Subsidized loans are given to farmers through KCCs by state-owned banks. Until March 2012, the outstanding amount on such loans was`1.6 trillion through 20.3 million cards, as...
More »Sheila Dikshit presents economic survey, promises ample jobs for Delhiites
-India Today A day before the city government is due to present its crucial Budget, Delhi Chief Minister Sheila Dikshit on Tuesday promised to provide ample employment opportunities and other facilities to Delhiites . The CM also refuted allegations of the government being 'insensitive' and reminded that a dedicated helpline number for women in distress had been set up. Presenting the economic survey in the Delhi Assembly on Tuesday, Dikshit said the city...
More »The roots of poverty: Ruinous healthcare costs-Anirudh Krishna
-Live Mint While natural disasters grab our attention, everyday events like illness drag most people into poverty In a small town of Gujarat, I met Chandibai, a woman, about 50 years of age. Fifteen years previously, her husband, Gokalji, had owned a general-purpose shop in the town centre. The family also owned a house and some agricultural land. In 1989, Gokalji developed an illness that confined him to bed, sometimes at home...
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