-The Telegraph World Bank report suggests that 33% of the Jan Dhan accounts were opened by people who already had bank accounts New Delhi: The Congress on Thursday said the Jan Dhan accounts, one of Prime Minister Narendra Modi’s flagship programmes, were “an exercise in mass deception”, aimed at creating propaganda tools for “self-praise” rather than the avowed objective of financial inclusion of the poor. “By December 2016, twenty-four per cent of the...
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More Equal Than Others -Usha Ramanathan
-The Indian Express The Aadhaar judgment divides the people of this country into those receiving state assistance, and others. The former will get socio-economic rights if they do as they are asked to do. Privacy is a luxury they can ill afford. The signs were there from the beginning. The poor were part of the marketing strategy for promoting a project that would require people to enrol in a database that...
More »Household Savings in banks dip for first time in four decades -Sunitha Natti
-The New Indian Express For the first time in four decades, bank deposits plunged to 25 per cent of overall household financial assets in FY18 as against 67 per cent a year before. MUMBAI: For the first time in four decades, bank deposits plunged to 25 per cent of overall household financial assets in FY18 as against 67 per cent a year before. The startling downfall of bank deposits is a first, at...
More »Cash still the king. Cash Savings highest in a decade -Gayatri Nayak
-The Economic Times Demonetisation seems to have had no impact on cash Savings by the Indian household, Savings are again going out of the banking system with share of Savings in form of cash touching decade high and that of deposits touching decade lows. While currency in circulation is at Rs 19.38 lakh crore is much higher than pre-demonetisation levels, household Savings in form of cash and currency has surged to...
More »Monthly income per farm household grew between NSSO & NABARD surveys, but so has the level of outstanding loans
A recent report by the National Bank for Agriculture and Rural Development (NABARD) enlightens one about the state of farmers' income and indebtedness in 2015-16. Entitled NABARD All India Rural Financial Inclusion Survey 2016-17 – in short NAFIS 2016-17 – the report says that between 2012-13 and 2015-16 the average monthly income for agricultural households grew by around 39 percent. One may recall that the Key Indicators of Situation Assessment Survey...
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