In an attempt to extend the reach of banks in rural and semi-urban areas, the finance ministry has asked public sector banks to integrate their operations with regional rural banks (RRBs). "Charges for various banking services used by customers of RRBs are to be aligned with the sponsoring banks," a finance ministry official said on condition of anonymity. "Further, cheques or drafts issued by RRBs should be treated at par...

-The Times of India   It is known to most media watchers that Kasturi & Sons Ltd, the company that publishes The Hindu, is caught in a bitter family feud. N Murali, who recently retired as managing director of the company, wrote a farewell letter to the employees of the company, lamenting that the Hindu's rich tradition of credibility, objectivity, balance and editorial primacy had of late been compromised. Later, in an...

-The Times of India   The information on tax evaders and those who have stashed unaccounted money abroad has started trickling in, with the government admitting for the first time that total deposits of Indians in Swiss banks have come down by more than 50% in the last five years. The total liabilities of Swiss banks towards Indians have declined in the last five years. The deposits of Indians have come down from...

The $12 billion Posco investment in India was supposed to be the biggest FDI project in the country. After six years that still remains on paper Horangineun jugeumyeon gajugeul namgigo, Sarameun jugeumyun ireumeul namginda (When tigers die, they leave behind leather. When people die, they leave their names behind) —Old Korean Proverb The news flash from Press Trust of India came on July 10, 2011. Posco, the $32 billion South Korean steel giant had decided to...

New-look programme to be rolled out in 2,000 most backward blocks within a year As part of a coordinated and aligned initiative, the Sonia Gandhi-led National Advisory Council, a re-energised Union Rural Development Ministry and the Planning Commission are working in tandem to make up for the time and money lost due to the underperformance in UPA-II on the government's flagship programme, the Mahatma Gandhi National Rural Employment Guarantee Scheme. Even as...