Export Import Bank of India has sanctioned a Libor-linked foreign currency loan to artisans in Bihar for bulk purchases of tasar silk, their raw material. Libor is London inter-bank offer rate which is being used as a benchmark for short term rates in the international capital market. Exim Bank has given the working capital loan for three months to Ecotasar Silk Pvt Ltd, an enterprise manufacturing off-the-loom tasar silk products in...

The National Advisory Council will ask the Centre to focus the ongoing socio-economic caste census on enumerating and classifying denotified, nomadic and semi-nomadic tribes, or DNTs. The plan is to give these groups priority while issuing unique identity cards and introducing laws that will grant them explicit recognition on the lines of the 1992 statute on minorities. The NAC said special directives must be issued to the housing and urban poverty alleviation...

The Sonia-Gandhi led National Advisory Council is pushing to amend the Unorganised Workers’ Social Security Act, 2008 to make it more inclusive and include a comprehensive social security package. The council, which met last month, pitched for a security package that would contain health insurance, maternity assistance, a life-cum-disability insurance scheme and a pension plan that it proposed should be provided through a single window backed by an inter-ministerial committee consisting...

-The Business Standard   The National Bank for Agriculture and Rural Development (Nabard) has recorded a 40 per cent growth in agriculture credit and rural development in Karnataka during 2011-12. It has extended farm credit of Rs 6,053 crore during the year. While the production credit refinance extended to cooperative banks and regional rural banks (RRBs) was Rs 3,775 crore, its finance to state government under the Rural Infrastructure Development Fund (RIDF)...

-The Economic Times Small and marginal farmers who constitute more than 80% of total farmer households in the country face exclusion from formal financial channels," says the Nair Committee on priority sector lending. The same report says "commercial banks have been prescribed targets since late 1960s for priority sector lending".  The banking system failed the farmers and the needy despite nationalisation, but is there a viable model that could help the millions...