-The Hindu Business Line A mint-fresh working paper by the Reserve Bank of India once again trains the spotlight on a problem that, for five decades, every policy-maker has planned to snuff out, failed to, and then wished it would go away if ignored. But financial exclusion simply hasn't, and we now have the central bank applying its forensic skills to an examination of its magnitude. The title of Working Paper Series...
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Aadhaar–LPG linkage still tardy in Andhra Pradesh
-The Hindu ‘Consumers must get Aadhaar number linked todatabase of oil companies and bank accounts' Hyderabad: Even as the Centre announced that the rollout of direct transfer of the cash subsidy on LPG would be from June 1, only 55 per cent of consumers got their Aadhaar number linked to the database of oil companies in the five districts in Andhra Pradesh. Even poorer is the linkage of Aadhaar numbers to the bank...
More »Banks suppressing alerts on suspect dealings: RBI probe-Josy Joseph
-The Times of India NEW DELHI: An investigation by the Reserve Bank of India (RBI) into allegations of money laundering by private Banks has found large-scale violations ranging from huge cash deposits without PAN to dummy numbers. The probe report, a copy of which is available with TOI, shows that three private players - HDFC Bank, ICICI Bank and Axis Bank - had also hugely suppressed alerts generated by their system on...
More »Rural job plan under DBT from October -Chetan Chauhan
-The Hindustan Times The UPA government intends to put the world's biggest job guarantee programme - MGNREGA - on its "game-changer" money transfer platform - the Direct Benefit Transfer (DBT) from this October. That would happen if the government agencies are able to provide unique identification or Aadhaar numbers to entire population in 51 districts, where the government intends to put MGNREGA under DBT mode, and the Banks and posts offices come...
More »Haves and have-nots, chained by loss-Sanjay Mandal
-The Telegraph Bengal - Defrauded Many households in Calcutta have a domestic help or a driver who has lost money by investing in Saradha schemes - a common thread that has spun a perception that the poor are the sole victims of the sham company. But Sudipta Sen's promise of high returns had blurred the divide between the haves and the have-nots as well as the educated and the uneducated. Travels across the semi-urban...
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