-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more Banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...
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3000 new bank branches to come up in rural UP
-The Indian Express Lucknow: Nearly 3,000 new bank branches will be set up in rural areas of the state till 2014. Reserve Bank of India Governor D Subbarao assured CM Akhilesh Yadav on Tuesday that the villages selected under Dr Ram Manohar Lohia Samagra Gram Vikas Scheme will be given preference for opening new branches. Subbarao met the CM at his residence in Lucknow. The chief minister pointed out that on the basis...
More »CAG finds flaws in implementation of debt waiver scheme
-PTI The government auditor CAG has found irregularities in disbursement of funds under the Rs 52,000-crore farm debt waiver scheme, 2008, as benefits have been taken by some ineligible farmers. Taking note of the the Comptroller and Auditor General (CAG) Performance Audit of the Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS) 2008, RBI has asked the Banks to recover money from ineligible beneficiaries. It has also advised the Banks to lodge FIRs...
More »If you think we're done with neoliberalism, think again-George Monbiot
-The Guardian The global application of a fraudulent economic theory brought the west to its knees. Yet for those in power, it offers riches How they must bleed for us. In 2012, the world's 100 richest people became $241 billion richer. They are now worth $1.9 trillion: just a little less than the entire output of the United Kingdom. This is not the result of chance. The rise in the fortunes of the...
More »Ramesh wants multiple registrars for Aadhaar A A Comments print -Kiritika Suneja
-The Financial Express In a move that could speed up the ambitious direct cash transfer programme, rural development minister Jaiarm Ramesh has suggested other entities such as state governments and Banks should be roped in to enroll residents in the Aadhaar system. In a letter to Prime Minister Manmohan Singh, Ramesh said the direct benefits transfers (DBT) scheme would be successful if multiple registrars are allowed to enroll beneficiaries in the Aadhaar...
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