Banks have designated red zones where the vast majority of Muslim clusters fall. This fact is confirmed by the rash of banking-related complaints received by the National Commission for Minorities. A little over a year ago, Ali Arshad, a resident of Okhla in Delhi, went to a well-known private sector bank to open a bank account. He thought his case would be fast-tracked because he had a banking background, he worked...

At a time when agriculture production has become key to economic expansion, the Union Cabinet on Friday will consider a proposal to fulfill its promise of crop loans at a cheaper rate of 5% to farmers who make timely repayment. In the current year's budget, finance minister Pranab Mukherjee had proposed to give up to 2% interest rate subvention to farmers who do not default on their repayments, making the...

Criticising the government’s Mining Bill, FICCI has said that the proposed legislation would adversely impact investments in the sector. It also termed the government’s scheme to provide shareholdings to tribals in mining projects as flawed. In a recent letter to Finance Minister Pranab Mukherjee, FICCI Secretary General Amit Mitra said that the proposed act will “adversely affect the industry”. “...the latest draft of the Mines and Minerals Development and Regulation Act 2010 proposes...

In a bid to instil a sense of belonging among people living in the Naxal-affected states of Jharkhand and Chhattisgarh, the government is considering the inclusion of 185 castes in the Central list of OBCs, which will entitle them to a slew of benefits. Sources in the government said, “A proposal to this effect from the ministry of social justice is high on the agenda of the Union Cabinet, which will...

Faced with acute shortage in supply of foodgrain in the public distribution system (PDS), all fair price shop owners in the state have decided to down their shutters from September 20 for an indefinite period. Three year ago, ration shops were gutted and many dealers had to go underground after food riots due to shortage. Surprisingly, minister of food & supplies Paresh Adhikari appeared to be unaware of the situation. “We...