-The Economic Times It was just a ride in a cycle rickshaw that moved an Assam based veterinary surgeon, Dr Pradip Kumar Sarmah and got him thinking into setting up the concept of 'Rickshaw Bank'. The concept today has changed the lives of more than 10000 rickshaw pullers in six states in India. Dr Pradip Kumar Sarmah (47), the innovator of this concept, explained that majority of the rickshaw pullers drive rented...
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DNA investigation: Nabard’s lies on restructuring process-Sandeep Pai
The National Bank for Agriculture and Rural Development (Nabard) set up to finance agriculture and rural development, has been giving evasive replies to specific questions raised by the Union finance ministry and by Parliament on the nature of recommendations made by the Boston Consulting Group (BCG) to restructure the bank. Some MPs believe that the restructuring violates the role mandated for Nabard by Parliament. DNA earlier reported that the restructuring/repositioning of Nabard...
More »Media Follies and Supreme Infallibility by Sukumar Muralidharan
The Supreme Court has taken steps to lay down a code for media reporting. This attempt at prior restraint on the media is a dangerous move with precedent from authoritarian polities. In a context where the judiciary has been lax in defending the media from attacks which seek to curb its freedom, such unilateral moves will not remedy bad reporting but rather make conditions worse for the media to play...
More »Govt to amend law so RBI can sell 1% stake in Nabard-Remya Nair
Central bank sold its majority stake in Oct 2010; change will ensure entire equity is held by the govt The government will amend a law governing the National Bank for Agriculture and Rural Development (Nabard) to allow the Reserve Bank of India (RBI) to sell its 1% stake in the development lender. The central bank sold its majority stake in the lender to the government in October 2010. The government owns 99%...
More »Ask in haste, repent in leisure-Devadeep Purohit and Meghdeep Bhattacharyya
A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...
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