In an attempt to extend the reach of banks in rural and semi-urban areas, the finance ministry has asked public sector banks to integrate their operations with regional rural banks (RRBs). "Charges for various banking services used by customers of RRBs are to be aligned with the sponsoring banks," a finance ministry official said on condition of anonymity. "Further, cheques or drafts issued by RRBs should be treated at par...

The Centre is set to make it compulsory that 4% of its annual purchases be made from the units run by dalits and tribals, in what will be its strongest bait for classes which hold the key to political battles at the Centre and states. The 4% purchase quota proposal from ministry of micro, Small and Medium Enterprises (MSME) is part of the policy that 20% of government procurement be...

-The Telegraph   Labour laws will not be eased for the proposed national manufacturing investment zones (NMIZs), and there will be administrative arrangements for quick relief to workers in case a unit is closed. The government plans to generate 100 million jobs within a decade in these proposed zones. Proposals of flexible labour laws in these zones, which may have allowed hire-and-fire policies, had come under criticism from trade unions and as a...

-Live Mint   Finally, a serious roadblock in the country’s march to industrialization may be removed soon. The Union ministry of rural development has unveiled a draft National Land Acquisition and Rehabilitation and Resettlement (LARR) Bill. Once a law, LARR could potentially end arbitrary land acquisitions under the Land Acquisition Act of 1894. Any well-functioning market gives clear signals and prices are market-driven. The 1894 law with its ill-defined “public purpose” clause...

-The Indian Express   More than a month after senior Congress leader Vidya Stokes raised her concerns about apples from the state receiving a severe beating in Indian markets, following bulk imports from foreign countries, especially China, Horticulture Minister Narinder Bragta admitted that China has dumped its apples at some ports, including Kolkata and Mumbai. Its arrival at the time when the home produce has just hit the market has created an...