-IndiaTomorrow.net NEW DELHI: Many people were surprised when Union Home Minister Amit Shah was given the additional charge of the newly created Ministry of Cooperation. The Cooperation Ministry was earlier a part of the Ministry of Agriculture. But it was no amazement for those acquainted with how the cooperative movement plays a role in politics – state as well as national politics – and how BJP used the cooperatives from the state...
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Why Exactly Did India Need a Brand New Ministry for Cooperatives, With Amit Shah As Head? -M Rajshekhar
-TheWire.in Cooperatives are useful for political parties in two ways – they are a font of funds as well as handy for dispensing patronage. A day before the reshuffle, Narendra Modi’s National Democratic Alliance government created a new Ministry of Cooperation. It would provide, said its statement, a separate administrative, legal and policy framework for strengthening the cooperative movement in India. A day later, it announced Union home minister Amit Shah would also head...
More »In 5 months, 40,000 Kerala farmers seek loan waiver -Shaju Philip
-The Indian Express In Idukki and Wayanad districts, where the situation is more severe, the loans availed up to August 31, 2018, are being considered by the commission for debt relief and in other districts it is March 31, 2014. Thiruvananthapuram: Around 40,000 marginal farmers in Kerala have approached the State Agricultural Debt Relief Commission in the last five months, seeking a waiver of loans they have taken from cooperative banks,...
More »RBI imposes restrictions on PMC Bank; withdrawal restricted to Rs 1,000 per account
-PTI MUMBAI: The Reserve Bank of India has ordered Punjab and Maharashtra Co-operative (PMC) Bank not to do any business for six months and capped depositor withdrawals at Rs 1,000, throwing the lives of thousands of traders, self-employed and daily wage earners into disarray. The regulator has also appointed an administrator for the bank. Defaults appear to have surged in the past six months amid tight economic conditions and some lumpy loans...
More »ECI stalls Karnataka farm loan waiver scheme till the end of election process -Sharath S Srivatsa
-The Hindu Decision to stop the scheme for now was based on opinion that unlike other schemes announced in the budget, this scheme entails cash transfer to beneficiaries, “which could sway them weeks before polling.” Bengaluru: The farm loan waiver scheme of the Janata Dal (Secular)-Congress coalition government has been stalled temporarily by the Election Commission of India after the model code of conduct for the Lok Sabha election came into force. The...
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