Indian Centre for Islamic Finance delegation makes presentation at Yojana Bhavan The Indian Centre for Islamic Finance (ICIF) has made out a strong case before Prime Minister's Economic Advisory Council member V. S. Vyas for introducing interest-free banking in the country at the earliest to ensure “inclusive growth with innovation” in accordance with the recommendations of the Planning Commission's Raghuram Rajan Committee. An ICIF delegation from New Delhi, led by its general...
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MasterCard Develops Payment Solution for ‘Aadhaar’ in India
MasterCard Worldwide, a leading global payments company, today said it has developed a payment solution for ‘Aadhaar’. ‘Aadhaar’ is a 12-digit Unique Identification Number (UID) that captures basic demographic and biometric information of Indian residents. The UID will make it possible for residents to establish their identity with financial institutions thereby providing them a gateway into the formal banking system. This payment solution will enable Aadhaar holders to perform payment...
More »RBI data show decline in credit flow to agriculture
There has been a significant pick up in credit flow to industry, services and personal loan segments during the current financial year. However, credit flow to agriculture has declined further, data released by the Reserve Bank of India as part of Macroeconomic and Monetary Developments Second Quarter Review 2010-11 shows. While credit flow to industry was highest at Rs 1,07,386 crore, credit flow to agriculture contracted by Rs 13,481 crore during...
More »Land acquisition bill listed for winter session
Even as railway minister Mamata Banerjee opposes government’s role in acquiring land for private companies , the contentious land acquisition (amendment) bill figures in the list of business for the winter session of Parliament beginning next week. The bill has been hanging fire in the wake of opposition from the Trinamool Congress leader, who recently skipped a meeting convened by finance minister Pranab Mukherjee to evolve a consensus within the ruling...
More »Towards another green revolution by NV Krishnakumar
Soon, the National Food Security Act will become law. The ruling United Progressive Alliance flagship social security programme of providing every Below the Poverty Line (BPL) family with 25 kg of rice or wheat at Rs 3 per kg per month is a welcome step to alleviate some of the human trauma that haunts the poor in our country. The government also hopes that the Act will secure freedom from...
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