-The Economic Times   The government has amended its landmark Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) to ensure that beneficiaries receive wage entitlements under the Act within 15 days through institutionalised channels, like banks and post offices. The amendment to Schedule II of the MGNREGA now makes it mandatory under the law for state governments to ensure that every beneficiary has a bank or post office account and the disbursements...

The Centre is likely to ask states to devote 2% of the funds allocated to them under its flagship rural employment guarantee scheme for providing easy Banking Services to the rural poor. A funding crisis had hit the government's earlier effort to leverage the banking correspondent, or BC, model for the beneficiaries of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) after banks refused to bear the cost of...

-The Indian Express   Financial inclusion in India seems to be far from inclusive. Out of a total of 5,165 new branches opened in 2011, only 21.86 per cent are rural branches, says a study. A growth rate of more than 700 per cent in urban Customer Service Points (CSPs) over the last year points towards the latest trend of urbanisation among Business Correspondents (BCs). Although there is not much difference between growth...

“Right to privacy,” like other fundamental rights in the Constitution and statutory rights under various laws, will soon become a reality. Union Law Minister Veerappa Moily indicated that a bill in this regard would be introduced in the monsoon session. The Right to Privacy Bill (a copy is with The Hindu) is to provide for such a right to citizens of India and to regulate collection, maintenance, use and dissemination of...

Conditional cash transfers” (CCTs) are a new buzzword in policy circles. The idea is simple: give poor people cash conditional on good behaviour such as sending children to school. This helps to score two goals in one shot: poor people get some income support, and at the same time, they take steps to lift themselves out of poverty. CCT enthusiasm, however, is often based on a superficial reading of the Latin...