-Outlook Jaipur: Describing the proposed Direct Cash Transfer scheme a 'pure magic' that brings a big responsibility on banks for its implementation, Finance Minister P Chidambaram today asked bankers to work with the government to make the scheme a success. "Through this unique benefit transfer scheme, money when it is released, will instantaneously be credited in the bank account of the beneficiary, leaving no scope for corruption and pilferage. That is why...
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Lok Sabha paves way for setting up more banks
-PTI Parliament on Thursday paved the way for corporate houses to enter the Banking sector by approving the banking bill, a key reform legislation pending for long. Parliament also passed the amendments to the debt recovery laws or Sarfesi law after a reply by finance minister P Chidambaram on the combined discussion on the two bills in Rajya Sabha. These two Bills -- Banking Laws (Amendment) Bill, 2012, and Enforcement of Security Interest...
More »Insurance Bill deferred to budget session
-The Hindu After having managed to push through the major reforms legislations such as the Banking and Companies Bills and also getting through with the 51 per cent foreign direct investment (FDI) in multi-brand retail, the UPA II dispensation will have to wait till the budget session of Parliament to get the Insurance Bill passed which seeks to raise the FDI cap in the insurance sector to 45 per cent. With the...
More »Lok Sabha passes companies, banking Bills-Asit Ranjan Mishra, Liz Mathew and Surabhi Agarwal
-Live Mint Consideration of land acquisition Bill deferred after opposition seeks more time to study new clauses India’s Parliament got down to business on Tuesday with the Lok Sabha passing two critical Bills, the Companies Bill, 2011, and the Banking Laws (Amendment) Bill, 2011, although it deferred consideration of the land acquisition Bill. The new Companies Bill, when it is enacted, is expected to improve the quality of corporate governance by strengthening...
More »‘Cash transfer scheme a game changer for banks’
-The Hindu It will bring many customers into banking fold: Andhra Bank CMD Hyderabad: Andhra Bank Chairman and Managing Director B. A. Prabhakar on Sunday said the cash transfer scheme of the Central government was a game changer for banks as it would help bring a large number of retail customers into the banking fold. The scheme had the potential to bring about a second revolution in the industry after nationalisation of banks...
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