-Outlook New Delhi: Over five lakh families in Delhi will be provided food grains initially under the ambitious food security programme which will be launched here on August 20, the birth anniversary of former Prime Minister Rajiv Gandhi. Chief Minister Sheila Dikshit, who has already announced that Delhi will be the first city to roll out the scheme, today held lengthy meeting with top brass of her government to finalise modalities to...
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Department of Posts seeks Rs 1,900 crore from government for banking -Urmi A Goswami
-The Economic Times NEW DELHI: The government's earnestness to change the lives of millions untouched by high-street banks is being tested with a proposal from its own department of posts. Armed with an amazing network of offices, the department has sought Rs 1,900 crore from the Centre to launch a bank that would connect with the aam aadmi in Indian villages and far-flung areas where few institutional lenders have a presence. Financial...
More »Fixed deposits earning you negative returns-Mayur Shetty
-The Times of India BANGALORE: Holders of fixed deposits have been earning a negative return in real terms for most of the preceding five years, thanks to inflation outstripping interest rates. To make matters worse, depositors continue to be taxed on this nominal income. Although bank fixed deposits have never been tax friendly, the level of compliance has been sketchy. But compliance is slowly getting stricter. In the past, RBI norms required banks...
More »On disability, missing the bigger picture -Dorodi Sharma
-The Hindu There is reason to be optimistic about the U.N. report on disability rights, but there is also disappointment at its failure to make the poverty connection The disability movement has waited anxiously for the report of the high level panel on post-2015, formed by the Secretary General of the United Nations, which was released in May. This document is expected to set the tone for the Secretary General's report on...
More »Food Security Bill to partly hurt ongoing recovery; 1QFY14 earnings in focus
-The Economic Times MUMBAI: The Union Cabinet this week passed an ordinance to implement the National Food Security Bill (NFSB). The bill guarantees legal entitlement of food grains at a subsidised price to ~67 per cent of India's population. The ordinance will come into effect immediately once it is signed by the President. But it also needs to be approved by both the houses of Parliament in the monsoon session within six...
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