-The Times of India NEW DELHI: As on September 30, 2017, more than Rs 1.1 lakh crore was owed to Banks by people or companies characterised as “wilful defaulters”, that is those who are unwilling to pay despite having the capacity to do so. TOI analysed more than 9,000 such accounts for which Banks have filed lawsuits for recovery and found that the top 11 debtor groups, each with dues of...
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Jharkhand govt's Bank transfer pilot for food subsidies turns a nightmare -Ashlin Mathew
-National Herald More than 25% of the villagers in Nagri, near Ranchi, where the pilot was introduced, have not received subsidies. Most have made multiple trips to the Banks wasting their money and yet no solution Aychi Nagduwar is 85 years old and she lives with her 40-year-old mentally-challenged son in Singhpur near Ranchi. The food subsidy supposed to be credited by the Jharkhand government under the Direct Benefit Transfer (DBT) scheme...
More »Lokpal selection meet on March 1
-The Telegraph New Delhi: A committee headed by the Prime Minister will meet on March 1 to process the names to be considered for the country's first Lokpal, the Centre told the Supreme Court on Friday. The committee will include the Chief Justice of India, the Lok Sabha Speaker and the leader of the single largest Opposition party in the Lower House, attorney-general K.K. Venugopal told a bench of Justices Ranjan Gogoi...
More »"DBT for food subsidy" experiment in Jharkhand dismal failure, most people oppose it
-Press Release from Right to Food Campaign (dated 24 February, 2018) Glitches in the system have deprived people of nearly half of their food rations in the last four months. When they do get their rations, people spend 12 hours collecting them, on average. Most people are opposed to the new system. In early October 2017, the Government of Jharkhand began an experiment with “direct benefit transfer” (DBT) under the public distribution...
More »Jaitley rules out privatisation of public sector Banks
-PTI Finance Minister Arun Jaitley today ruled out privatisation of public sector Banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot of people have started talking of privatisation in the aftermath of the PNB fraud. “This (privatisation) involves a large political consensus. Also, that involves an amendment to the law (Banking Regulation...
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