-The Times of India THIRUVANANTHAPURAM: The National Bankfor Agriculture and Rural Development (NABARD) has unveiled an ambitious Rs 5,320 crore plan for various development activities in the state this year. The bank has allocated Rs 2,075 crore for short-term agriculture activities which can go up to Rs 2,600 crore depending on the successful operations of the co-operative banks in the state. "For long -term investment in rural sector, NABARD has committed to provide...

Central bank sold its majority stake in Oct 2010; change will ensure entire equity  is held by the govt The government will amend a law governing the National Bank for Agriculture and Rural Development (NABARD) to allow the Reserve Bank of India (RBI) to sell its 1% stake in the development lender. The central bank sold its majority stake in the lender to the government in October 2010. The government owns 99%...

-The Business Standard The Microfinance Bill in its present form may hurt the growth of the Self-Help Group (SHG) programme being run across states to bring people above the poverty line, according to Union rural development minister Jairam Ramesh. “The Bill needs to be rewritten. MFIs are not instruments for poverty alleviation,” Ramesh said in an interaction with reporters after he reviewed initiatives by NABARD in an SHG-bank link programme. He, however, did...

-Press Information Bureau   In a first major initiative of involving corporate India in developmental work, the Government of India has sought its partnership in setting up the Bharat Rural Livelihood Foundation (BRLF). Rural Development Minister Jairam Ramesh has written letters to corporates like Tatas, Reliance, Wipro and Infosys to join the Foundation as contributing partners, to improve the livelihood of tribals, mostly living in Central and Eastern India. Public sector NABARD...

The finance ministry has asked public sector banks to devise products for Indian farmers to ensure they get adequate funding in emergencies. The government, the majority owner of such banks, wants them to roll out products such as emergency loans to farmers that will be linked to savings accounts, a weather index-based insurance product, and set up a credit guarantee fund that will aid farmers in the event of crop losses...