-Frontine Walmart’s disclosure that it spent huge amounts of money on lobbying in India and the allegation that it entered the retail sector through indirect means highlight the power of global capital in dictating the country’s policies. The world’s largest multi-brand retailer Walmart’s disclosure to the United States Senate that it had spent $25 million (Rs.135 crore) since 2008 on its various lobbying activities, which include enhancing access to the Indian...
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Government pushes banks to go rural, but will it pay?-Swati Pandey and Rajendra Jadhav
-Reuters RANCHHODPURA, India (Reuters) - Working out of a tiny rented room furnished with a wooden table, small biometric authentication machine and shelf stacked with passbooks, Ganesh Dangi is a one-man bank for a village of 650 people in northwestern Rajasthan. A business correspondent, or local representative, for State Bank of Bikaner and Jaipur (SBBJ) in Ranchhodpura village, 40 km (25 miles) east of Udaipur, Dangi is racing to sign up villagers...
More »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 »Banking roadblock for cash transfer scheme
-The Times of India JAIPUR: Direct cash transfer scheme that was rolled out from January 1 this year in three pilot districts of Rajasthan is facing crippling absence of banking infrastructure and at this point it's anybody's guess when the banks can do their part to provide legs to the UPA-II's ambitious project. One of the pillar's of the project was to have banking correspondents (BCs) in the unbanked villages so that...
More »Delhi Police to hire additional 2,508 police women -Vishwa Mohan
-The Times of India After asking the Delhi Police to make women cops available at all the 180 police stations in the national capital, the Centre on Friday moved to recruit an additional 2,508 women police personnel for the city and asked all the states to replicate this model by increasing the number of women in police forces to 33% of their total strength. The Centre also asked all the states and...
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