-The Hindu The National Bank for Agriculture and Rural Development (NABARD), whose funding of corporate warehousing projects on terms far softer than those offered to poor and often suicidal farmers was highlighted by The Hindu last month, has withdrawn its controversial scheme with retrospective effect under pressure from the Reserve Bank of India. The minutes of a meeting of the sub-committee of the NABARD Board held last month confirm that the RBI...
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RBI cites law to stonewall RTI info-Sandeep Pai
-DNA As cases of denial of information under the Right to Information Act pile up, the Reserve Bank of India approached various courts as many as nine times against the Central Information Commission’s (CIC) orders directing it to provide information. Seven of these cases are now pending in the Delhi High Court while two are in the Bombay High Court. Not only has the RBI preferred litigation against providing information, the central...
More »Rural men don domestic roles, thanks to SHG initiatives -G Naga Sridhar
-The Hindu Business Line Can you imagine many men who never donned domestic roles are now sharing household works in rural India? This is one of the findings of a national study, conducted on the impact of self help groups in the last two decades, which Union Minister of Rural Development Jairam Ramesh has released here. Finance and managment The study, conducted by the National Network of Enabling Self Movement (Enable) in eight States...
More »As farmers suffer, NABARD offers soft loans to corporates-Shalini Singh
-The Hindu Private companies get loansat 6.5% with additional cash refunds; for farmers it is 7% The National Bank for Agriculture and Rural Development (NABARD), which is dedicated to promoting rural development by providing soft loans to State governments for social sector projects, has given hundreds of crores as loans to corporates on concessional terms. In the Union Budget of 2011-12, Rs. 18,000 crore was allocated by the Centre to NABARD’s Rural Infrastructure...
More »All Kisan Credit Cards To Be Converted to ATM Cards: PC
-Outlook State-owned banks have been asked to strictly adhere to the March, 2014 time-line for converting all Kisan Credit Cards (KCCs) to ATM cards, Finance Minister P Chidambaram today said. "All KCCs will be converted to ATM cards. I have impressed upon all chairpersons of the banks that this time-line must be strictly adhered to," Chidambaram said following a meeting with the chief executives of state-run banks. State-owned lenders were asked to convert...
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