Move could save banks significant money spent on record-checking and documentation In what could usher in an era of paper-less, real-time authentication, the finance ministry is looking into allowing online Aadhaar authentication as a valid proof of identity for opening bank accounts. The ministry is considering an amendment to the Prevention of Money Laundering Act, or PMLA, to recognize online Aadhaar data to satisfy know-your-customer (KYC) requirements. This will pave the way for...

-The Economic Times   An expert group has recommended adding 30 agricultural and allied works under the Centre's flagship rural job guarantee scheme, in a revamp aimed at making the country's costliest social sector programme more effective.  As part of the overhaul of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), the panel has also suggested an electronic fund management system to ensure timely transfer of money to needy districts.  The recommendations of...

The government may soon have to shell out an Unemployment Allowance if it fails to provide jobs to wage seekers under the flagship Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). “The MGNREGA software will automatically generate the pay order for payment of unemployment allowance to the wage seekers, whose demand for work is not met within 15 days,” said a report of a high-level committee chaired by Plan panel member...

-The Asian Age   With several controversies emerging that the funds released for the Mahatama Gandhi National Rural Employment Guarantee Scheme (MGNREGS) being utilised for other purposes by many state governments, the Haryana government has on Sunday made MGNREGS Fund Act to check the proper and dedicated utilisation of the funds. As per the new notification to this effect, issued by the rural development department, Haryana, funds received from the Union government and...

SHEILA DEVI, 54, of Nangal Kalan village in Haryana’s Sonepat district cannot comprehend how Taneja Developers and Infrastructure Ltd (TDI) procured her two-acre plot in 2004, ‘signed’ with thumb impressions of her husband Narender Singh, who died in 2002 and his brother Bhupender, who went missing the next year. The documents are obviously forged. But how did a farmers’ family get cheated in Haryana, where the land acquisition policy formed in...