Says the bank has also stopped refinancing farm loans Says no NABARD official has visited his office in a year Criticises Milma for deposits in a private bank Cooperation Minister G. Sudhakaran said here on Monday that the National Bank for Agriculture and Rural Development (NABARD) had not been taking the initiative to hold discussions on implementing the Vaidyanathan committee report on cooperative sector reforms and had stopped refinancing farm loans in the...
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Banker and pradhan ‘rob’ BPL man
A day labourer has complained to court that a panchayat pradhan in cahoots with a bank manager has thrust a loan of Rs 30,000 on him for which he had never applied, the allegation exposing how beneficiaries of village schemes are left at the mercy of influential rural leaders.Additional chief judicial magistrate Manoj Rai, after criticising the police role in the investigation, asked the Islampur subdivisional officer yesterday to inquire...
More »Five myths about microfinance by TT Ram Mohan
The microfinance bubble has burst. The AP government ordinance, the AP oppositionfs campaign asking borrowers not to repay and the sheer public hostility towards MFIs . all these have put the brakes on MFI activities for now. We need to rethink the role of MFIs in the rural economy . In order to do so, we must first grasp some of the myths on which the MFI sector has rested...
More »BJP unhappy over PDS in state
The Bharatiya Janata Party Nagaland expressed unhappiness over the Pubic Distribution System (PDS) of essential commodities in the state. It stated that the present PDS is in the hand of a few contractors, appointed by the government as state Stockiest and District Nominee, for mobilization/handling and transportation of essential commodities meant for districts on contractual basis by signing of an agreement for one year period. “These temporary deeds are purely for...
More »Punjab Dy CM requests RBI Governor to promote debt swap scheme for farmers
The Punjab Government Thursday requested the Reserve Bank of India that it should impress upon Public Sector banks to aggressively promote Agricultural Debt Swap scheme to free the farmers from the clutches of moneylenders. The Punjab Deputy Chief Minister Mr. Sukhbir Singh Badal raised this issue when Dr. D. Subbarao, Governor, RBI today called on him. The Deputy Chief Minister impressed upon the Governor that the Punjab farmers reeling under Rs....
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