-The Financial Express The Unique Identification Authority of India (UIADI) has launched a micro ATM device that would enable beneficiaries like MG-NREGA workers with Aadhaar to withdraw money near their doors through core banking system. "The beneficiary has to put his finger and Aadhaar number in to the micro ATM wireless device and get the money within 8 to 9 seconds from a business correspondent after verification about the beneficiary having that...
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Kisan credit cards to double up as debit cards by Dheeraj Tiwari
The nearly 10 crore farmers who hold kisan credit cards (KCC) will soon be able to use their card as a deposit account and a debit card. This will help the government scale up its Financial Inclusion plan quickly without relying on bank accounts alone. KCC, which has been instrumental in faster delivery of credit to farmers, is like an overdraft account with a bank that has to be operated through a...
More »SBI to use BCs for farm loan recovery
-The Business Standard Achieves total Financial Inclusion in Andhra Pradesh. State Bank of India (SBI) is planning to use the rural banking correspondent (BC) network for farm loan recoveries in addition to the services prescribed under the Financial Inclusion plan by the Reserve Bank of India. The SBI’s Hyderabad circle with operational jurisdiction extending to the entire state of Andhra Pradesh is one of the first to achieve total Financial Inclusion. It has...
More »Centre moves SC for keeping CBI out of RTI by Dhananjay Mahapatra
At a time when it is debating with Team Anna over CBI's inclusion within the Lokpal's ambit, the Centre has moved the Supreme Court seeking to blunt petitions in various high courts challenging the June 9 notification exempting the investigating agency from the purview of Right to Information Act. The ministry of personnel, public grievances and pension had issued the June 9 notification to include CBI, the National Investigating Agency...
More »FDI in Retail: Misplaced Expectations and Half-truths by Sukhpal Singh
The central government claims that allowing foreign direct investment into India’s retail sector will benefit small farmers, expand employment and lower food inflation. What has been the experience in India with organised retail so far and what has been the global experience with FDI? Sukhpal Singh (sukhpal@iegindia.org) is currently at the Institute of Economic Growth, Delhi. After being under relentless attack for a week, the United Progressiv Alliance government was forced to...
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