-The Times of India PATNA: The Bihar government, which keeps crying for more central assistance, could not spend Rs 1472.61 crore in 2012 and surrendered 100 per cent funds in 192 schemes, depriving the beneficiaries of the benefits, according to the CAG report for 2011-12 presented in state assembly on Tuesday. Central funds for several schemes also remained unutilized, it said. The CAG also regretted the lack of objective planning in utilization...
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When machine 'replaced' man as NREGA labourer-Vivek Deshpande
-The Indian Express Yavatmal: Works worth Rs 36 crore were completed in less than four months, supposedly a manual effort under the central employment scheme MNREGS, according to the Maharashtra's forest department. An inquiry ordered by the district collector has found it was made possible by a collusion between forest officials and contractors, who allegedly used machines. Works worth Rs 32 crore were done in only nine of 56 gram panchayats in...
More »Speedy generation of Aadhaar needed to roll out cash benefit transfers before 2014
-The Economic Times The government wants to roll out cash benefit transfers throughout the country before the end of its term in 2014. It is a laudable goal, but will require speedy generation of Aadhaar, the unique identification number, and of Aadhaar-linked bank accounts. About 40% of Indians have no access to formal financial services. So, the government wants to step up efforts to open a bank account for every beneficiary and...
More »Andhra Pradesh to challenge SC interim order on SKS-Dinesh Unnikrishnan
-Live Mint State govt says did not receive notice from SC before order was issued; SKS shares fall 19.63% in intra-day trade Mumbai: Andhra Pradesh, once the largest market for microlenders and home to India's lone listed such institution SKS Microfinance Ltd, said on Thursday it would challenge the Supreme Court's recent interim order allowing the company to resume operations in the southern state, driving the stock down by almost 20%...
More »In 4 yrs, only 700 suspected money laundering cases/yr-Subhomoy Bhattacharjee & Anil Sasi
-The Indian Express Contrary to the perception that money laundering is widespread across the country's banking sector, the Financial Intelligence Unit (FIU) has found an average of only about 700 cases annually over the last four years on which investigations could be initiated. The FIU is the national agency responsible for tracking information related to suspect financial transactions. Finance ministry data shows that during the last four years, banks and other entities have...
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