Even before the Reserve Bank of India (RBI) finalizes the guidelines for handing out new bank licences, its draft proposal has evoked unease in the National Bank for Agriculture and Rural Development (Nabard), which oversees the country’s 82 regional rural banks (RRBs). Nabard has taken exception to the banking regulator’s proposal to allow industrial houses to take over RRBs and convert them into full-fledged banks, saying such a move could dilute...

The government is divided over allowing foreign direct investment (FDI) in multi-brand and foodgrain retailing. While the Ministry of Finance is opposed to any change in the existing retail FDI policy, the Agriculture and Consumer Affairs Ministries, along with the Planning Commission, are open to the proposal mooted by the Ministry of Commerce and Industry. At present, FDI in these areas of retailing is banned. The finance ministry’s position gains significance in...

In a few days from now, women could account for 52 per cent of all local bodies. They are tailors, farmers, accountants, legal clerks, homemakers, vendors and activists. There are M.Com degree holders alongside poor women from deprived backgrounds. Together, they make up the most highly educated women candidates fighting local body elections anywhere in the country. There are nearly 40,000 of them contesting the polls across more than 1,200...

The government has assured full support to Indian companies exploring opportunities to acquire agricultural land in Africa for cultivation of pulses in order to deal with its domestic shortage. "We import pulses and we will be more supportive of more land being brought under cultivation and for value addition. India is the market and we have been investing in agriculture...," Commerce and Industry Minister Anand Sharma had said. With the unabated...

One billion people worldwide still live in extreme poverty Agricultural growth remains central to poverty reduction, as one billion people worldwide continue living in extreme poverty, many of them in rural areas, a World Bank Group on agriculture, the Independent Evaluation Group (IEG), said in a report released on Tuesday. Drawing on the World Bank Group's (WBG) experience in supporting agricultural growth in the past decade, the report — Growth and Productivity...