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DBT scheme to be launched in 20 districts-Sujay Mehdudia

-The Hindu   It is likely to be extended to entire country from October The Petroleum and Natural Gas Ministry on Wednesday announced that the Direct Benefit Transfer (DBT) scheme for the LPG consumers, putting subsidy Cash directly into the account of beneficiaries, would be launched in 20 districts with high Aadhaar card penetration from June 1. The scheme is likely to be extended to the entire country from October this year. However, the...

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Montek pat, Cash for Bihar

-The Telegraph Bihar today drew praise from Planning Commission deputy chairperson Montek Singh Ahluwalia for faring better than other states on per capita income. "Bihar's overall performance during 2012-13 has been very good and its growth in per capita income has been better than the country as a whole. Although the state started with a low base, this still is a remarkable growth," he said after a meeting with chief minister Nitish...

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Banks suppressing alerts on suspect dealings: RBI probe-Josy Joseph

-The Times of India NEW DELHI: An investigation by the Reserve Bank of India (RBI) into allegations of money laundering by private banks has found large-scale violations ranging from huge Cash deposits without PAN to dummy numbers. The probe report, a copy of which is available with TOI, shows that three private players - HDFC Bank, ICICI Bank and Axis Bank - had also hugely suppressed alerts generated by their system on...

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RBI probes Cobrapost report, reveals violations by banks: sources

-CNN-IBN New Delhi: The Reserve Bank of India is probing the Cobrapost sting operation on alleged money laundering by top banks. The RBI report has revealed major irregularities in top banks. The report shows string of violations on several counts. Sources say the RBI report reveals dummy PANs, unknown NRO IDs, unauthorised gold sale, rampant non-compliance of KYC norms and irregular staff trips. Sources say the RBI probe into ICICI Bank reveals Cash...

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Here's why Food Bill will cost more than we think-Prachi Mishra

-The Economic Times The revised, but not yet passed, National Food Security Bill (NFSB) represents a crucial political-economic approach to welfare. But how well do we understand the financial and, more importantly, distributional consequences of the revised Bill? Although the revised Bill is likely to simplify the identification of beneficiaries, financial implications will still be substantial. Calculating these implications must include not only the cost of food subsidy, but also additional costs...

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