-The Statesman Prime Minister Narendra Modi has expressed anguish over suicides by farmers, whose condition has not improved despite the high rate of economic growth. The reason for this distressing state of affairs is that economic policies are badly crafted. The primary effort of the Government has been to increase agricultural production. The price factor is not taken into consideration, the perception being that the farmer will be better off...

-The Business Standard Based on the credit history banks may later decide to extend the amount Under the Pradhan Mantri Jan Dhan Yojana, the overdraft facility initially offered by banks will be less than Rs 5,000, the highest under the scheme. Based on credit history, lenders might extend the amount at a later stage. Earlier, the finance ministry had clarified a lower amount might be extended under the overdraft scheme. Under this, on...

-Deccan Chronicle On August 15, Prime Minister Narendra Modi announced the Pradhan Mantri Jan Dhan Yojana, a financial inclusion scheme that will ensure that at least one member of each and every family in India not only has a bank account with a debit card, but is also provided an overdraft facility of Rs 5,000, a life insurance policy of Rs 30,000 and accident insurance cover of Rs 1,00,000. On August...

-The Hindu   The reassuring message in the Pradhan Mantri Jan Dhan Yojana is that in pursuing its economic objectives, the government wants to accord an important role to the public sector even while relying on market mechanisms The goal is hard to achieve. It is costly and unviable. It will create huge stresses in the banking system. The Narendra Modi government's Pradhan Mantri Jan Dhan Yojana (JDY), an ambitious scheme for financial...

-The Business Standard Like Indira Gandhi, even Narendra Modi seems to be relying on directing public-sector banks through ministry of finance supported by party cadres. How new is that? Narendra Modi's biggest project so far is Pradhan Mantri Jan Dhan Yojana (PMJDY), an aggressively promoted idea to open bank accounts. The English media ran full-page ads and TV commercials to announce the scheme that is supposed to reach largely rural households. It...