-The Times of India JAIPUR: Direct cash transfer scheme that was rolled out from January 1 this year in three pilot districts of Rajasthan is facing crippling absence of banking infrastructure and at this point it's anybody's guess when the banks can do their part to provide legs to the UPA-II's ambitious project. One of the pillar's of the project was to have banking correspondents (BCs) in the unbanked villages so that...
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Rising rural, urban wages aiding inflation: RBI report
Rising wages in both rural and urban India have contributed to inflation, and managing price levels when wages are rising is key to deriving benefits from higher growth, the Reserve Bank of India has said. "The pressure on generalised inflation from sustained increase in wage costs has been one important characteristic of the recent high inflation episode. Wage increases for unskilled labourers in rural areas continue to be at a rate...
More »Banks asked to roll out new farm loan products-Dinesh Unnikrishnan
The finance ministry has asked public sector banks to devise products for Indian farmers to ensure they get adequate funding in emergencies. The government, the majority owner of such banks, wants them to roll out products such as emergency loans to farmers that will be linked to savings accounts, a weather index-based insurance product, and set up a credit guarantee fund that will aid farmers in the event of crop losses...
More »Stop harassing community, state’s bishops tell PM
-The Times of India The Tamil Nadu Bishop Council on Thursday flayed the Centre for targeting the Christian community for the protests against the Kudankulam Nuclear Power Project and requested Prime Minister Manmohan Singh to stop the "harassment". The bishops are pained by the witch hunt, said Archbishop A M Chinnappa. Speaking to reporters here, the council authorities, including Chinnappa and Tuticorin Archbishop Yvon Ambroise, said no one could stop them from...
More »In the light of day, questions about midnight encounter by Ajai Sreevatsan
Five suspected bank robbers die at the hands of police Five men suspected to be involved in two recent bank robberies in the city were gunned down by the police at a Velachery apartment in the small hours of Thursday. But rather than bringing the curtains down on the daring heists that shook the city, the “encounter” itself looks set to move centre-stage, with the police claim of firing in self-defence...
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