-PTI Employees of public sector banks have gone on two-day nationwide strike today opposing banking sector reforms and outsourcing of non-core activities, affecting operations. Several private sector banks, foreign banks and ATMs, however, continued to operate normally. The strike call was given by the United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions of employees and officers of PSU banks. They are protesting against banking sector reforms and unilateral implementation of...

The finance ministry is all set to increase the agriculture lending target by around 25% in the budget for 2012-13 despite a sharp increase in the non-performing loans in the sector.  In the last budget, the government had increased the target to 4.75 lakh crore from 3.75 lakh crore in the year before.  "Banks will continue to focus on all priority sector areas. This year more focus will be on direct lending...

-PTI   A strong demand was made in the Lok Sabha today for a package for the micro, small and medium enterprises, which are facing problem on account of the economic slowdown. Members from different parties made the demand while participating in a discussion on the Regulation of Factors (Assignment of Receivables) Bill, 2011. Shailendra Kumar (SP) demanded that Government should set up a special fund to help the MSME sector. Gorakhnath Pandey (BSP) said...

The central government claims that allowing foreign direct investment into India’s retail sector will benefit small farmers, expand employment and lower food inflation. What has been the experience in India with organised retail so far and what has been the global experience with FDI? Sukhpal Singh (sukhpal@iegindia.org) is currently at the Institute of Economic Growth, Delhi. After being under relentless attack for a week, the United Progressiv Alliance government was forced to...

Some Dalit businessmen plan to launch a Rs 500 crore venture capital fund — India’s first community-focused fund. The Central government’s new procurement policy will open business opportunities worth Rs 7,000 crore for Dalit and s (ST) entrepreneurs. These entrepreneurs are now gearing up to tap this opportunity by launching their own venture capital fund and increasing their production capacities. The proposed Rs 500 crore venture capital fund will be the country’s...