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....

-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...

-The Times of India   The UPA government is bracing for a mega strike on February 28, backed by trade unions cutting across party lines, in protest against rising prices, disinvestment of profit-making PSUs and violation of labour laws among other reasons. They will be joined by around 8 lakh bank employees who are protesting against reforms and outsourcing of jobs.  Almost all sectors, except railways, are likely to come to a stop...

The corruption paranoia, blamed for the policy paralysis at the Centre, is threatening to take a toll on Bengal by clouding the timetable of the much-delayed Jindal steel plant at Salboni. Banks and financial institutions are unwilling to give loans to the project because of uncertainties surrounding the mining sector. The Jindal project may require loans totalling Rs 10,000 crore in the first phase to build a 3-million-tonne plant. The proposed Salboni...

Chances of a single answer to two opposing questions on the RTI Act means there is something to it which the rule-books don’t tell you about—but you can bowl googlies to them, too, when the system expects you to hold a straight bat to their bouncers Here is a single answer to two diametrically opposite questions—“Yes, you can file an application under the Right to Information Act of India 2005 (RTI...