-The Economic Times NEW DELHI: The government's earnestness to change the lives of millions untouched by high-street banks is being tested with a proposal from its own department of posts. Armed with an amazing network of offices, the department has sought Rs 1,900 crore from the Centre to launch a bank that would connect with the aam aadmi in Indian villages and far-flung areas where few institutional lenders have a presence. Financial...

-The Times of India NEW DELHI: Eager to make an impact on the electorate by expediting enrolments under its flagship cash-for-food programme Annshree Yojana, the Delhi government is exploring the option of tying up with the Postal Department to speed up opening of Aadhaar-enabled, zero-balance accounts for beneficiaries from economically weaker sections not covered by the public distribution system. A total of 45,000 beneficiaries have been enrolled under the scheme launched in...

-The Hindustan Times The UPA government intends to put the world's biggest job guarantee programme - MGNREGA - on its "game-changer" money transfer platform - the Direct Benefit Transfer (DBT) from this October. That would happen if the government agencies are able to provide unique identification or Aadhaar numbers to entire population in 51 districts, where the government intends to put MGNREGA under DBT mode, and the banks and posts offices come...

-The Hindu The Government of India took a major step forward in enabling Non-Resident Indians (NRIs) to file applications under the Right to Information Act this week, announcing that it has launched a service called "elPO," or Electronic Indian Postal Order. Using this, NRIs across the world may now be in a position to file RTI applications conveniently via direct payment of fees for the same. According to an Office Memorandum put...

-The Times of India The Reserve Bank of India having opened the window for new bank licences, the Postal Department is finalizing the blueprint to set up a bank of its own at your neighbourhood post office, a move that will challenge the dominance of large public sector lenders in smaller towns and rural India. While the department already has a balance sheet of Rs 6.18 lakh crore, which includes deposits of...