-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...

Over 60,000 people of Jharkhand are fast realising the benefits of aadhaar, having already opened bank accounts with the help of their unique numbers issued by the Nandan Nilekani-headed Unique Identification Authority of India. UIDAI started enrolments in the state last September, and already six lakh residents have their numbers with another 16 lakh waiting in the wings, having completed formalities that include recording fingerprints and retina scans. “According to latest figures...

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...

-The Central Chronicle   On an experimental basis, mobile banking services have been introduced in eight districts of the state to disburse wages to labourers in their villages itself under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). There are plans to expand mobile banking services to remaining 42 districts. Under the plan, wages amounting to more than Rs. 74 crore have been paid to over two lakh 75 thousand labourers...

The earlier draft covered only non-NBFC MFIs incorporated as trusts and non-governmental organizations that constitute a very small part of the total industry The proposed microfinance Bill for governing India’s Rs. 22,000 crore microlending industry is set to give more teeth to the Reserve Bank of India (RBI) to regulate larger microfinance institutions (MFIs). This will be done by removing such entities from the purview of laws enacted by state governments...