-The Times of India The Congress moved with alacrity on Tuesday to put the stamp of its "hand" on 'direct cash transfers', calling it an election promise fulfilled and lining up Rahul Gandhi to lead the celebrations in the build-up to the launch of what it sees as a "game-changing" scheme. Finance minister P Chidambaram and rural development minister Jairam Ramesh chose the Congress party platform to announce the launch of the...
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Congress eyes political dividends from move to provide Direct Cash Transfer
-The Economic Times Congress is hoping to reap political dividends from its move to provide direct cash transfer to the beneficiaries of welfare schemes just as it believes it did in the previous elections from the rural employment guarantee scheme. Rural development minister Jairam Ramesh, who, along with finance minister P Chidambaram, was deputed by the party to explain the details of the ambitious scheme on Tuesday, termed the initiative "a...
More »PM clears rollout schedule, from Jan 1
-The Business Standard Full country coverage, in stages, by April 2014 uidAI, FinMin given prime responsibility to work with ministries, states for national coverage The government today made its intention clear of exploiting an Aadhaar-based direct cash transfer system as a political plank in the next Lok Sabha polls, due in 2014. Prime Minister Manmohan Singh today cleared the schedule for implementation from January 1 of government subsidies and entitlements to beneficiaries...
More »Direct cash transfer of subsidies through Aadhaar from January 1
-The Hindu Direct cash transfer of subsidies through the Aadhaar card would be rolled out in 51 districts across 15 States from January 1, 2013, Union Finance Minister P. Chidambaram announced on Saturday. The scheme would aim to cover the entire country by the end of 2013, he said. Speaking at the annual Bankers’ Conference (BANCON), Mr. Chidambaram said banks would play an essential role in the direct cash transfer, as every...
More »RBI Rules Out Introduction of Islamic Banking
-Outlook Kochi: Reserve Bank Governor D Subbarao today ruled out introduction of Islamic banking in the country but said other methods for channelising funds based on the principles of Islamic law can be looked at. "Islamic banking is not possible", he said, adding the central bank could look at other vehicles based on Islamic banking principles to channelise NRI funds. Replying to a question on the issue, Subbarao said: "There are some legal...
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