-The Hindu The Direct Benefits Transfer Initiative is the real tool against corruption that will ensure that the welfare state doesn’t degenerate into a farewell state We are grateful to Narendar Pani (Editorial page, “Cashing in on schemes for poor,” November 29, 2012) and Bharat Bhatti and Madhulika Khanna (Editorial page, “Neither effective nor equitable,” December 4, 2012) for starting a useful debate on the United Progressive Alliance government’s Direct Benefits Transfer...
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People of no fixed address-Sunil Sethi
-The Business Standard Are these people expected to return to their villages and hometowns to hang around waiting for the Unique Identification Authority of India to set up shop? Workers returning to their jobs in metros from remote villages in Bihar and Jharkhand have lately been complaining that they are barred from boarding trains unless they show sufficient identification, including proof of residence in cities. Whether this is a run-up to the...
More »RBI’s KYC guidelines: You can now open a bank account with just one document-Vivek Sharma
-MoneyLife.in The latest RBI KYC guidelines for opening new bank accounts make it a lot easier for common man as only one document would suffice as proof of identity and proof of residence The Reserve Bank of India (RBI) has come with modifications in KYC (Know Your Customer) guidelines. These modifications have been introduced as per the circular date 10 December 2012 (RBI/2012-13/322 DBOD.AML.BC. No. 65/14.01.001/2012-13). It is important to note that...
More »At 3 crore rural accounts, banks set global record
-The Financial Express The banking sector has opened over three crore accounts in rural India as part of their financial inclusion drive. Compared to the number of rural households in the country of over 22 crore this is about 13 per cent. The government data upto March 31, 2012 also shows the extent to which the banking sector has to stretch to make the aadhaar programme a success. The aadhaar roll out of...
More »aadhaar can fix Kotkasim-like problems: Jairam -Rukmini Shrinivasan
-The Times of India Is aadhaar the difference between what happened in Kotkasim and what could have been? That's the stand the government is taking, but the critics of the Unique Identification (UID) disagree. After TOI wrote on Sunday of how payment delays were threatening to undo a pilot programme in which cash is transferred to a person's account in place of the kerosene subsidy in Kotkasim, Rajasthan, rural development minister Jairam...
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