Farmer Dharamshyam Kujur put the hitherto nondescript village of Doba in Kudu block of Lohardaga district on the banking map of India today as he withdrew Rs 100 from his newly opened account. Watching him create history was Reserve Bank of India (RBI) governor D. Subbarao, who, as part of RBI’s ambitious outreach programme aimed at financial inclusion, inaugurated a smart card-based satellite banking system in the village earlier in the...

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...

Tamil Nadu: The north-east monsoon, 50 per cent in excess in the State, claims over 200 lives and destroys crops and infrastructure.A SERIES of weather systems, including a cyclone that missed Chennai narrowly, saw the skies open up over Tamil Nadu between November 4 and December 5, the period when the north-east monsoon is most active. Most of the 561 mm of rainfall that the State received between October 1...

Chief minister Arjun Munda has urged bankers and financial institutions to join hands with the state administration to launch a water conservation campaign to prevent a third consecutive drought in Jharkhand next year.Addressing officials of National Bank for Agriculture and Rural Development (Nabard) today at a meet on the bank’s credit plan for 2011-12, Munda said recurrent droughts had upset the state’s economy. He admitted the farmers were going through...

Today, the Indian media—both print and television—is focusing on the recent corruption scandals involving the UPA Government with unusual zeal. However, I fail to understand why almost every commentator, every TV anchor, every editorial writer feels compelled to pay ritual obeisance to the “personal honesty and integrity” of Dr Manmohan Singh while dealing with the scandals emanating from his cabinet colleagues. They do so even when there is clear evidence...