-TheWire.in "If everyone starts to impose export restrictions or to close markets, that would worsen the crisis," German agriculture minister Cem Ozdemir told the news agency AFP. New Delhi: Agriculture ministers from the Group of Seven (G7) industrialised nations on Friday, May 13 condemned India’s decision to ban unapproved wheat exports after the country was hit by a punishing heatwave. “If everyone starts to impose export restrictions or to close markets, that would...
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To control domestic prices, India bans wheat exports with immediate effect -Harpreet Bajwa
-The New Indian Express However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, DGFT said in a notification dated May 13. CHANDIGARH: With the Russia-Ukraine conflict disrupting global wheat trade and the procurement of wheat dipping down this year due to hosts of reasons and the prices of wheat flour (Atta) is an all time high...
More »86% of bank frauds tied to loans, 99% in case of PNB -Chethan Kumar
-The Times of India BENGALURU: From misuse of letters of credit, guarantee or undertakings to diversion and siphoning of funds, a variety of frauds linked to advances haunt the Indian banking system, indicating a lack of hygiene and risk frameworks. While 86% of all frauds in India for 2016-17 are linked to advances, it was 99% at Punjab National Bank (PNB) which, experts say, points to collusion with insiders. Also, 26 banks...
More »M Govinda Rao, ex-Director, National Institute of Public Finance and Policy (2003-13), interviewed by S Rajendran (The Hindu)
-The Hindu Centre for Politics and Public Policy Prime Minister Narendra Modi's announcement demonetising high denomination notes on November 8, 2016, will do little to address the prime objective of flushing out black money but will adversely affect the economy in the short term, especially the informal sector, which is predominant in India, says M. Govinda Rao, a Member of the Fourteenth Finance Commission and Emeritus Professor, National Institute of Public...
More »Too poor to qualify for loans -Mehboob Jeelani
-The Hindu Banks continue denying loans to low-income groups, insisting on sticking to a standard EMI route even though they are dealing with a complex social issue. In July 2012, Pradeep Kumar, a 36-year-old resident of Ladpur, a shanty town that sits on the north-western periphery of Delhi, applied for an employment loan at the magistrate’s office in Kanjawala district. Under the Pradhan Mantri Rozgar Yojana or PMRY — a funding policy...
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