With nearly 60% of the country’s population unbanked and the government pledging to bring banking to the lowest stratum of society, the Indian Institute of Management, Indore (IIMI), has decided to do its bit on financial inclusion. For its annual management summit Ahvan, the institute has decided to unveil a programme called Samanvay, where IIMI students will help underprivileged people in and around the campus open bank accounts and get...

Delhi MPs have failed to make optimum use of funds under MP Local Area Development (MPLAD) scheme, clocking up a utilisation rate of just 86.93%, well below the national average of 90.32%. According to a report of the ministry of statistics and programme implementation, Delhi was placed among laggard states when it came to utilisation of funds till July this year. Since the MPLAD scheme was launched in 1993, total...

India’s monsoon rains were about 3% above normal in July, the highest for the month since 2005, making a repeat of last year’s crop failure and food-led inflation surge unlikely. Heavy rain since the third week of July has brought readings above normal for the first time this monsoon season, according to weather office data, wiping out the seasonal shortfall in almost all major grain areas other than in the east...

As late as 2008, about 23 years after the Bhopal gas tragedy, the state government was still involved in virtual subterfuge. Taking advantage of a curfew imposed in Indore, which was reeling under communal riots in July-August that year, the government smuggled out 40 tonnes of toxic waste from the Union Carbide factory to an incinerator 230 km away at a site in Pithampur. Apologising for the government's action, Union...

India’s vital monsoon rains revived in the soybean-growing central region on Thursday, after a two-week lag that reduced June rainfall to 16% below normal, the second lowest in 15 years. Heavy showers in the central Madhya Pradesh state would accelerate soybean planting in the world’s top importer of edible oils and ease growing nervousness about monsoon rains. The weather office reaffirmed its prediction of a normal monsoon this year, in line with...