-PTI Currency with the public has reached a record high level of over Rs 18.5 lakh crore, more than double from a low of about Rs 7.8 lakh crore it had hit post-demonetisation decision in late 2016, as per RBI data. At the same time, the total currency put in circulation by the Reserve Bank has also more than doubled to over Rs 19.3 lakh crore -- from a low of about...
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PMFBY: Modi govt's crop insurance scheme sees decline in farmers' enrolment -Namrata Acharya
-Business Standard Between FY16 and FY17, the number of farmers enrolled in the scheme declined from about 57.3 million to about 48.5 million, a fall of around 15% Kolkata: The Pradhan Mantri Fasal Bima Yojana (PMFBY), the flagship crop insurance scheme of the Narendra Modi government, has entered its third year of operation, albeit with a substantial decline in farmers' enrolment in its second year, the data reveals. Between FY16 and FY17, the...
More »Enroll at least 16 persons for Aadhaar daily or face salary cut: Public sector Banks tell staff -Kanu Sarda and Anuradha Shukla
-The New Indian Express The New Indian Express has reliably learnt that many PSU Banks have warned their employees of coercive action, including salary cuts, if they fail to enroll a minimum of 16 persons a day for Aadhaar. NEW DELHI: Though the jury is still out on the need for Aadhaar, public-sector Banks are taking extra pains to ramp up enrolment, as dictated by the Ministry of Electronics and Information Technology...
More »Is loan waiver a panacea for rural distress? -Nilanjan Banik
-Financial Express Loan waivers adversely affect marginal farmers due to a reduction of formal credit channels given to them On the eve of the Karnataka election, waivers of farm loans were one of the major election promises. Now, chief minister HD Kumaraswamy wants to fulfill his pre-poll promise and even threatened to resign if he cannot fulfill his promise. As has been seen time and time again, “farmers first” provides political mileage....
More »How agri credit is missing those who really need it -TCA Sharad Raghavan & Sobhana K Nair
-The Hindu Small farmers are getting only 30-40% of loans meant for the sector, says RBI report New Delhi: The small and marginal farmers are missing out on the bulk of agricultural credit, as per information provided by the Reserve Bank of India, which showed they are receiving only 30-40% of loans meant for the sector. As per a report submitted by the RBI to the Parliamentary Standing Committee on Agriculture in response...
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