-PTI Opposition parties on Friday disrupted Rajya Sabha demanding a special economic package for seven most backward states including Bihar, Odisha and Uttar Pradesh, leading to an adjournment of the House till noon. Raising the issue, Kiranmay Nanda (SP) said the Central government had failed to provide financial package to the seven most backward states identified in the Raghuram Rajan report. The Rajan panel had in September 2013 recommended a new index of...
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'Those Without Acc Can Soon Receive Money From ATMs'
-Outlook Mumbai: RBI Governor Raghuram Rajan today said individuals without a bank account will soon be able to receive money from those with bank accounts, using automated teller machines (ATM). "We have recently approved the in-principle setting up of a payment system which will facilitate funds transfer from bank account holders to those without accounts through ATMs," he said, delivering the DR Gadgil lecture here. Rajan said the move is driven by the...
More »Living on a thin edge -Devinder Sharma
-Deccan Herald In the past seven years around 3.2 crore farmers have abandoned farming and taken up menial jobs in the cities. At a time when change is the buzzword on the political landscape, when cities are changing, and the villages are no longer what they used to be; when incomes are rising for an educated few, and when the bottom of the pyramid - those below the poverty line -- are...
More »Have bank accounts for all by Jan 2016: RBI panel
-PTI MUMBAI: Recommending sweeping changes in the banking structure, an RBI panel on Tuesday suggested setting up of specialized banks to cater to low income households to ensure that all citizens have bank accounts by 2016. It also suggested that facility for withdrawal, payment and deposit should be set up within a 15-minute walking distance anywhere in the country. "By January 1, 2016 each resident, above the age of 18, would have an...
More »Cereal offenders -Ila Patnaik
-The Indian Express Food inflation owes largely to agricultural markets being regulated by outdated laws. The RBI governor, Raghuram Rajan, has a difficult task this week. He has to decide whether to keep interest rates constant or raise them - bearing in mind the possible taper of the US Fed's bond buying programme, a decline in industrial production and a rise in inflation. The sharp increase in consumer price-based inflation, to more...
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