State Bank of India, the country’s largest bank, plans to scale up its rural book in keeping with its objective to increase financial inclusion. The bank plans to increase its rural lending book by 25% and its deposit base by about 28%,’’ said Jayanta K Sinha chief general manager, rural business, SBI. The bank is also in the process of teaming up with corporates, who would be Business Correspondents(BC). “In keeping...
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Orissa cuts dependancy on FCI, targets 32 lakh tonne rice
The Orissa government has set a target of procuring 32 lakh tonne of rice this time despite bad Weather, reducing dependance on the Food Corporation of India (FCI), official sources said today.The decision not to wholly depend on the FCI was taken at a cabinet meeting chaired by Chief Minister Naveen Patnaik here last night."As performance of FCI was not satisfactory in 2009, the state government decided to reduce target...
More »Spiralling food prices burning holes in pockets by Aditya Raj Das
As the common man continues to reel under the spiraling rise in prices of essential commodities especially key food items and vegetables the forever-rising food inflation is posing a serious challenge to policy makers. Though top government officials, including the Finance Minister and the Chairman of the Planning Commission have repeatedly assured that the food prices will soon stop rising, in reality it has gone the other way. The rising spree...
More »Rains, pests may cause damage to cotton crop by Komal Amit Gera
The decision to defer cotton export registration by one month – from October 1 to November 1 – may help the textile companies in the short term because of sufficient availability, but there are concerns on how long that would last. Arrivals of cotton are uncertain across India with farmers apprehensive about the yield due to inclement Weather. The early varieties of cotton from Punjab and Haryana have also been affected...
More »Rising demand may push up grain prices despite high output by Dilip Kumar Jha
Global foodgrain prices are likely to remain high in the coming months despite high output estimates this season. Bad Weather in Brazil and Russia and rising global demand have made the grain market sensitive. The assessment of the damage due to dry Weather in Russia, Western Australia and South America and floods in India, China and Pakistan is yet to be done. This is offering grain traders speculative opportunity on futures...
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