There has been a significant pick up in credit flow to industry, services and personal loan segments during the current financial year. However, credit flow to agriculture has declined further, data released by the Reserve Bank of India as part of Macroeconomic and Monetary Developments Second Quarter Review 2010-11 shows. While credit flow to industry was highest at Rs 1,07,386 crore, credit flow to agriculture contracted by Rs 13,481 crore during...
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MFIs vs moneylenders
The Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Ordinance, 2010, suggests there’s more politics than understanding of economics that went into it. The setting up of district registering authority under the ordinance, with elaborate powers to even cancel licences, will increase risks of operations posing serious hazard to business plans and will jeopardise the whole MFI network. Especially stifling is the requirement that MFIs have to submit a monthly...
More »MPs contest figures on manual scavengers by Smita Gupta
Contesting government figures, several MPs on Monday stressed that the number of manual scavengers still left in the country was much higher than what was furnished by the Ministry of Social Justice and Empowerment — 1.17 lakh. At a meeting of the Parliamentary Consultative Committee attached to the Ministry, they pointed out that this figure did not square with the much larger number of proposals received by the Ministry of Housing...
More »Dalit families get their land, thanks to RTI Act by M Dinesh Varma
They plan to raise bank loans to build their own homes and take up agriculture Landless Dalit families in a Kancheepuram village have used the Right to Information (RTI) Act to prompt the district administration to hand over land that was originally allotted to them several years ago, thanks to the initiative of a grassroots NGO. A total of 106 Dalit families in Alisoor village were allotted 100 sq m...
More »Income ceiling for low-cost Housing Loans increased by Aarti Dhar
The government has increased the income ceiling a month a household for Housing Loans from the existing Rs. 3,300 to Rs. 5,000 for the economically weaker sections (EWS) category and from Rs. 3,301 — Rs. 7,000 to Rs. 5,001 — Rs. 10,000 for the Lower Income Groups (LIG). The revised ceilings will be applicable for definition of beneficiaries under government schemes for housing including the Interest Subsidy for Housing the Urban...
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