-The Economic Times KOLKATA: West Bengal chief minister Mamata Banerjee's plan to start a savings scheme with the aim of protecting the poor from losing their money to deposit schemes that promise high returns will be going ahead with the Reserve Bank of India having cleared the participation of state-run banks in the programme. The state government is to launch the plan on November 6. State-run West Bengal Infrastructure Development Finance Corporation...
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Kisan Credit Cards: Bad loan bubble waiting to burst?-Dinesh Unnikrishnan
-Live Mint Subsidized loans given to farmers through KCCs could very well be the next big source of NPAs for banks Mumbai: A surge in exposure to farm debt through Kisan Credit Cards (KCCs) could emerge as a risk for India's state-run banks, according to experts. Subsidized loans are given to farmers through KCCs by state-owned banks. Until March 2012, the outstanding amount on such loans was`1.6 trillion through 20.3 million cards, as...
More »In 8 yrs, Cong income up by seven times by Gopu Mohan
What can power do to a political party’s financial health? Quite a lot, it seems. An RTI query by a Chennai-based activist shows that the income of India’s longest-ruling national party, the Indian National Congress, increased from Rs 69.55 crore in 2002-03 to a whopping Rs 467.57 crore in 2010-11. Documents accessed by activist V Gopalakrishnan show that the jump is even more evident when figures from 2003-04 are compared with...
More »CBI, IAS officer under CVC scanner for alleged corruption
The Central Vigilance Commission has advised prosecution proceedings against 17 officers, including an IAS, working in different government organisations for their alleged involvement in corruption. After conducting preliminary inquiries, the CVC has found that Sanjiv Kumar, a 1985-batch IAS officer of Haryana cadre, working with Ministry of Personnel, PG and Pensions and Bose Partha Sarathi, Deputy Superintendent of Police, Special Crime Branch, in Central Bureau of Investigation were allegedly involved in...
More »46 farmers' suicides in Orissa in two years
After being cornered by the Opposition political parties on several occasions for the past two years over the cases of recurring farmers' suicides in Orissa, the state government has finally come out with a report on the matter. According to the report released in the state legislative assembly by Damodar Rout, the minister for agriculture and cooperation, 46 farmers have committed suicide in 2009-10 and in 2010-11 so far due to...
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