The government may allow post offices to set up automated teller machines, or ATMs , at rural areas, in an attempt to further strengthen the role of India Post in financial inclusion. India Post, which is working on major improvements in the payment process for social sector schemes like NREGA, will set up ATM networks in selected areas to give people access to online banking services. "Central, state and local governments are...

Prime Minister Manmohan Singh's observation that enforcement of environmental regulatory standards should not lead to a throwback to the days of the licence-permit raj strikes a jarring note in an era of enlightened, science-based conservation. By projecting regulation as a threat to economic development, he has brought needless pressure to bear on the nascent efforts of Minister Jairam Ramesh to bring accountability and transparency to the Ministry of Environment and...

Prime Minister Manmohan Singh today asked states to waive local taxes, including octroi, as well as reform the outdated Agriculture Produce Marketing Committee Act, or Mandi Act, to help control a runaway food inflation. The Prime Minister also called for dovetailing organised retail chains with farm supply chains. “Supply chains need to be strengthened and these need to be dovetailed with organised retail chains for quicker and more efficient distribution of farm...

Reserve Bank of India Governor D. Subbarao on Thursday deposed before the Public Accounts Committee (PAC), which is looking into the Comptroller and Auditor General (CAG) report on the 2G spectrum allocation scandal. PAC chairman Murli Manohar Joshi said the committee had some questions to ask related to Dr. Subbarao's stint as Finance Secretary in 2007-08 just before he became RBI Governor. At a previous meeting of the PAC, another former...

Former DoT Secretary Behura and Raja's aide Chandolia also taken into custody, to be produced in court today The Central Bureau of Investigation on Wednesday arrested the former Union Communications and Information Technology Minister, A. Raja, and two officers who had worked under him, for their role in the grant of licences and allocation of 2G spectrum during 2008 in violation of established guidelines and procedures. Mr. Raja (47), as well...