The Reserve Bank of India, RBI, and the finance ministry seem to have differences on the way banks should go about ensuring financial inclusion. While both the regulator and the ministry are passionate about providing banking services at low cost to the disadvantaged, a difference of opinion between the two has confused bankers. Recently, the finance ministry told banks that every business correspondent outlet should be converted into an ultra-small branch....
More »SEARCH RESULT
Total Matching Records found : 527
Govt moots one-time tax amnesty to recover black money stashed abroad
-The Times of India The government's white paper on black money, tabled in Parliament on Monday, listed a one-time tax amnesty to recover funds stashed abroad and a gold deposit scheme for locals as possible ways to deal with the menace, while suggesting that individuals get the tax department's go-ahead for all property deals and face undue scrutiny on cash in their possession. It also called for setting up of independent regulators,...
More »Antidote to World Bank prescription-K Subramanian
A scholarly study of corruption in the larger context of societal growth and development Corruption is no longer a word and has become a noise. Debates on corruption have reached high decibel levels and the world is no closer to solutions. Given the complexity, there are as many views as there are participants. Some speak from high moral pedestals like those from the rich, donor countries. It is no surprise that...
More »UIDAI: Finance Ministry gives cold shoulder to Aadhaar project
-The Times of India The national project to give unique identity numbers to all Indians, and enable welfare payments electronically, is now facing a snub from the very part of the government that funds it, and has been its most staunch supporter so far: The finance ministry. Two moves initiated by the banking division in the finance ministry over the past three months appear to duplicate and bypass the work being done...
More »A standard & poor way of remote control-Sunanda Sen
Remote controls are identified as technical devices which are used for various purposes ranging from the launching of space-ships to the monitoring of toy cars. But of late, these devices are being used to direct policies for nation states which are formally sovereign. We speak here of the powerful lobby of international credit rating agencies like Standard and Poor's (S&P), which has just delivered its sermon that India is no longer...
More »
