In a bid to encourage farmers to part with their land for industrial development, the Gujarat government has formulated a new land acquisition policy to make them partners in the development. Announcing this, Minister of State for Industries Saurabh Patel said the State-owned Gujarat Industrial Development Corporation (GIDC) henceforth would acquire land only with the “consent” of the concerned farmers, pay them at the prevailing market price, and give them a...
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Hamlet becomes banking smart by Amit Gupta
Farmer Dharamshyam Kujur put the hitherto nondescript village of Doba in Kudu block of Lohardaga district on the banking map of India today as he withdrew Rs 100 from his newly opened account. Watching him create history was Reserve Bank of India (RBI) governor D. Subbarao, who, as part of RBI’s ambitious outreach programme aimed at financial inclusion, inaugurated a smart card-based satellite banking system in the village earlier in the...
More »Labourers selling MGNREGA cheques in Jharkhand: official
In the absence of adequate banking services in rural areas in Jharkhand, some labourers sell their MGNREGA cheques to “middlemen” for a discount to get the money on the spot, a top official suggested on Wednesday. “Recently I went to Chatra and learnt that a MGNREGA labourer had sold his Rs. 100 cheque to get Rs. 70,” state Chief Secretary Ashok Kumar Singh said at a programme in presence of RBI...
More »Interest-free banking urged
Indian Centre for Islamic Finance delegation makes presentation at Yojana Bhavan The Indian Centre for Islamic Finance (ICIF) has made out a strong case before Prime Minister's Economic Advisory Council member V. S. Vyas for introducing interest-free banking in the country at the earliest to ensure “inclusive growth with innovation” in accordance with the recommendations of the Planning Commission's Raghuram Rajan Committee. An ICIF delegation from New Delhi, led by its general...
More »How the PDS is changing in Chattisgarh by Udit Misra
The Chhattisgarh model offers some key lessons on how to make the public distribution system deliverProbably the only thing extraordinary about Manglu is that he is the perfect example of an ordinary tribal. The 60-year-old belongs to the Pahadi Korba tribe and lives in Govindpur village of Sarguja district of Chhattisgarh. He best represents what modern India calls a below poverty line (BPL) beneficiary of various government schemes. Manglu earns...
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