One of the key factors to inclusive growth is financial inclusion for all. Financial inclusion refers to universal access to a wide range of banking solutions and financial services in a fair, predictable and transparent manner at affordable costs. The poor tend to be ignored because the Transaction Costs in serving them are high. Initiatives that reduce these costs will allow service providers to begin thinking of financial services for...

Parliament must use budget session to discuss key pending bills The budget session of Parliament begins today. The last few sessions have been characterised by disruptions and consequent loss of productive time. To see one indicator, the 15th Lok Sabha, half-way through its term, has lost 30 per cent of scheduled time — the worst ever. As a result, many important bills have been pending. It is to be seen whether...

The government has decided to throw its might behind private purchases of farm land overseas to ensure food security for India.  The agriculture ministry has sought views from other ministries on an institutional mechanism to extend sovereign support to India Inc's acquisition of farm land abroad that could include guaranteed buyback of harvest from the cultivation overseas.  Agriculture secretary PK Basu said that the proposal is in a nascent stage. "We had...

-The Hindu   The services will enable transfer, application procedures to be brought to one's door Last Christmas Eve, 35 people in a remote village of Jharkhand received a unique present. They became the first Indians to access their Mahatma Gandhi National Rural Employment Guarantee Scheme bank accounts on their doorstep, having had their identities authenticated through their Aadhaar numbers. They are among the earliest beneficiaries of the next phase of the ambitious —...

-The Times of India   The SC order said quite clearly that then telecom minister A Raja "wanted to favour some companies at the cost of the public exchequer" and lists seven steps he took to ensure this happened. Here are the steps as the SC saw them:  1. After taking over as telecom minister, Raja directed that all applications received for UAS licences should be kept pending till receipt of the Trai's...