-The Economic Times In what could hobble the government's plans to give Aadhar a key role in banking and a central pin of the direct cash transfer scheme, several state-run banks have refused to bear any liability for transactions done with customers that were authenticated through the unique identity (UID) mechanism. Banks and the Reserve Bank of India (RBI) had been convinced by the finance ministry to use Aadhar to fulfill the...
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India Jobs Program Scam Pays Wages to Dead Workers -Andrew MacAskill, Unni Krishnan & Tushar Dhara
-Bloomberg The corpse of Indian farmer Bengali Singh burned to ash atop a blazing funeral pyre on the banks of the river Ganges in 2006. Five years later, the dead man was recorded as being paid by India's $33 billion rural jobs program to dig an irrigation canal in Jharkhand state. Officials in his village and the surrounding region used at least 500 identities, including those of Singh, a disabled child of...
More »Kisan Credit Cards: Bad loan bubble waiting to burst?-Dinesh Unnikrishnan
-Live Mint Subsidized loans given to farmers through KCCs could very well be the next big source of NPAs for banks Mumbai: A surge in exposure to farm debt through Kisan Credit Cards (KCCs) could emerge as a risk for India's state-run banks, according to experts. Subsidized loans are given to farmers through KCCs by state-owned banks. Until March 2012, the outstanding amount on such loans was`1.6 trillion through 20.3 million cards, as...
More »Cash transfer put off by at least 3 months -Subodh Ghildiyal & Mahendra Singh
-The Times of India The expansion of UPA's flagship intervention - direct benefits transfer (DBT) - is likely to be pushed back by three months, shrinking the window for fullscale implementation of the scheme that Congress sees as its trump card for the 2014 polls. The scheme to ensure delivery of cash subsidies and entitlements to bank accounts of beneficiaries was launched in January 2013. However, for the scheme to live up...
More »Bihar lowers wage under MGNREGA -Jitendra and Alok Gupta
-Down to Earth State blames poor financial condition for the move The Bihar government has defended its recent move to lower its minimum wage rate offered to unskilled labourers, saying the state is in poor financial condition. Bihar has lowered its wage rate offered under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) from Rs 144 to Rs 135, while the state minimum wage is Rs 168. This is despite the...
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