-The Times of India Crest Cash transfers have been described as the world's favourite new anti-poverty device. As India gets set to implement it, TOI-Crest finds out if the politics will ever be divorced from the cash The UPA government's ambitious plan to introduce direct cash transfers (DCT) by January 1, 2013 reflects both the political desperation of a beleaguered government and the urgent need to reform India's inefficient and corrupt public...
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RBI’s KYC guidelines: You can now open a bank account with just one document-Vivek Sharma
-MoneyLife.in The latest RBI KYC guidelines for opening new bank accounts make it a lot easier for common man as only one document would suffice as proof of identity and proof of residence The Reserve Bank of India (RBI) has come with modifications in KYC (Know Your Customer) guidelines. These modifications have been introduced as per the circular date 10 December 2012 (RBI/2012-13/322 DBOD.AML.BC. No. 65/14.01.001/2012-13). It is important to note that...
More »Akhilesh waives Rs 1,650 crore farm loans on dad Mulayam's birthday
-The Times of India LUCKNOW: A cash-strapped Uttar Pradesh government wrote off loans worth Rs 1,650 crore to farmers on Samajwadi Party chief Mulayam Singh Yadav's 74th birthday on Thursday, fulfilling an election promise that is bound to further deplete the state's already dwindling coffers. Chief minister Akhilesh Yadav said 7.2 lakh farmers, who've taken loans of up to Rs 50,000 from rural cooperative banks, will benefit from the waiver. "Farmers who've...
More »Pitfalls for subsidy targeting -Subir Roy
-The Business Standard Cash transfer is targeted at the poor, but Aadhaar has no role in identifying the poor The disbursement of subsidies through direct cash transfers is round the corner. It will begin in 51 districts in the new year, just over a month away, and in half the country in four months’ time. So it is important to ask: do we have the capability to take on this job,...
More »Pan Singh Tomar’s great grandson Anuj is a banking correspondent at village Kosarlkalan in Morena -Deepshikha Sikarwar
-The Economic Times Pan Singh Tomar, the legendary steeplechase athlete-turned-dacoit, earned an annual salary of 120 or thereabouts from the Indian Army, where he served as a hawildar in the 1950s. These days, his great grandson roams around their ancestral village dispensing similar amounts to those at the bottom of the Indian pyramid. If Tomar Sr had resorted to guns for the latter part of his life, Anuj Singh Tomar too has...
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