-The Hindu In case of loan in both cooperative and commercial banks, the former qualifies for waiver Bengaluru: The intensive de-duplication work to identity farmers eligible for loan waiver is expected to identify at least 7 lakh people who have loans in both cooperative sector and commercial banks, resulting in saving of at least Rs.6,000 crore to the State exchequer. A farmer will be eligible for loan waiver from one of the...
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Banks lost Rs 41,167 crore to fraud in 2017-18: RBI -George Mathew
-The Indian Express There were 5,917 instances of bank fraud in 2017-18 as against 5,076 cases the previous year, show the data released Friday. Fraudsters have looted Rs 41,167.7 crore from the banking system in 2017-18, a sharp jump of 72 per cent from Rs 23,933 crore the previous year, despite “stringent monitoring and vigilance”, according to data released by the Reserve Bank of India (RBI). There were 5,917 instances of bank...
More »Women-centric reforms needed for financial inclusion; gender-neutral schemes don't work amid societal bars -Sohini Sengupta
-Firstpost.com The year is due to end, and the report card for India's flagship financial inclusion programme, the Pradhan Mantri Jan Dhan Yojana for 2018 is out. Before diving into the specifics of the programme, it would be useful to remember that the year has been revelatory with regard to women's issues, from the #MeToo movement to the 217 years that it will apparently take to close the gender pay gap. In...
More »Aadhaar: Twists and turns in the path of biometric identification
-PTI The biometric identity system is set for a revamp with new offline verification tools, non-intrusive approach Aadhaar, the country’s extraordinary attempt to give every citizen a biometric identity, is set for a massive revamp with new offline verification tools and non-intrusive ways for people seeking to voluntarily use the 12-digit unique number for new Bank Accounts and mobile connections. After a chaotic 2018, led by the landmark Supreme Court (SC) ruling on the constitutional...
More »Loan waiver promise tipped the scales in favour of Congress in Madhya Pradesh
-PTI BHOPAL: Congress president Rahul Gandhi's promise of a farm loan waiver if his party is voted to power in Madhya Pradesh seems to have helped it reap a rich harvest of votes and end 15-year-long wait for power. In the wake of Rahul Gandhi's populist promise made during campaigning for the November 28 polls, cultivators did not sell their paddy produce and stocked them to reap the benefit of the promised...
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