-The Hindu The National Bank for Agriculture and Rural Development (NABARD), whose funding of corporate warehousing projects on terms far softer than those offered to poor and often suicidal farmers was highlighted by The Hindu last month, has withdrawn its controversial scheme with retrospective effect under pressure from the Reserve Bank of India. The minutes of a meeting of the sub-committee of the NABARD Board held last month confirm that the RBI...
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IMF says India shouldn’t rush to give banking licences to conglomerates-Remya Nair and Asit Ranjan Mishra
-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...
More »3000 new bank branches to come up in rural UP
-The Indian Express Lucknow: Nearly 3,000 new bank branches will be set up in rural areas of the state till 2014. Reserve Bank of India Governor D Subbarao assured CM Akhilesh Yadav on Tuesday that the villages selected under Dr Ram Manohar Lohia Samagra Gram Vikas Scheme will be given preference for opening new branches. Subbarao met the CM at his residence in Lucknow. The chief minister pointed out that on the basis...
More »If you think we're done with neoliberalism, think again-George Monbiot
-The Guardian The global application of a fraudulent economic theory brought the west to its knees. Yet for those in power, it offers riches How they must bleed for us. In 2012, the world's 100 richest people became $241 billion richer. They are now worth $1.9 trillion: just a little less than the entire output of the United Kingdom. This is not the result of chance. The rise in the fortunes of the...
More »Ramesh wants multiple registrars for Aadhaar A A Comments print -Kiritika Suneja
-The Financial Express In a move that could speed up the ambitious direct cash transfer programme, rural development minister Jaiarm Ramesh has suggested other entities such as state governments and banks should be roped in to enroll residents in the Aadhaar system. In a letter to Prime Minister Manmohan Singh, Ramesh said the direct benefits transfers (DBT) scheme would be successful if multiple registrars are allowed to enroll beneficiaries in the Aadhaar...
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