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RBI, finance ministry differ over rural bank branches-Sangita Mehta

The Reserve Bank of India, RBI, and the finance ministry seem to have differences on the way banks should go about ensuring financial inclusion. While both the regulator and the ministry are passionate about providing banking services at low cost to the disadvantaged, a difference of opinion between the two has confused bankers.  Recently, the finance ministry told banks that every business correspondent outlet should be converted into an ultra-small branch....

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UPA struggles to put life into annual report-Sanjay K Jha

The UPA II’s third anniversary on May 22 may witness a repackaging of old schemes, promises and achievements in the “Report to the people” as the government has little to show for 2011-12. Sources say the 13-chapter report struggles to contest the perception of policy paralysis by pointing out social-sector initiatives based primarily on welfare schemes launched during the UPA I regime or in the first year of UPA II. The government...

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Meet PM’s change agents-Amit Gupta

 Twenty-two newbie managers, fresh from B-schools across India, are raring to go. Only, they won’t make spreadsheets to sell soaps or fizzy drinks. From June, they will assist senior bureaucrats across 11 districts of Jharkhand where the Centre is funding uplift schemes. These managers — from IIT-Kharagpur, Tata Institute of Social Sciences (TISS)-Mumbai, Visva-Bharti in Bengal’s Santiniketan, XISS-Ranchi, XLRI-Jamshedpur and others — are Prime Minister’s Rural Development Fellows in some of...

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Unique identity crisis-Latha Jishnu, Jyotika Sood

-Down to Earth Biometric-based unique identity or Aadhaar is leading to huge problems for people working for the rural employment guarantee scheme and for others receiving welfare benefits. Not only have enrolments been done shoddily but the experience of the pilot projects shows that it is almost impossible to authenticate the work-hardened fingerprints of the poor, find Latha Jishnu and Jyotika Sood. Besides, there is the overwhelming issue of deficient online...

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UIDAI: Finance Ministry gives cold shoulder to Aadhaar project

-The Times of India The national project to give unique identity numbers to all Indians, and enable welfare payments electronically, is now facing a snub from the very part of the government that funds it, and has been its most staunch supporter so far: The finance ministry. Two moves initiated by the banking division in the finance ministry over the past three months appear to duplicate and bypass the work being done...

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