Direct Benefit Transfer (DBT) or Cash transfer might appear attractive on papers, but in reality it is opposed by its beneficiaries when implemented. Something similar to this has happened in the Nagri block of Ranchi district, where Cash is being transferred to the aadhaar seeded bank accounts of beneficiaries in lieu of providing subsidized foodgrains. Cash transfers in the public distribution system (PDS) have been in operation in the Nagri block...
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"DBT for food subsidy" experiment in Jharkhand dismal failure, most people oppose it
-Press Release from Right to Food Campaign (dated 24 February, 2018) Glitches in the system have deprived people of nearly half of their food rations in the last four months. When they do get their rations, people spend 12 hours collecting them, on average. Most people are opposed to the new system. In early October 2017, the Government of Jharkhand began an experiment with “direct benefit transfer” (DBT) under the public distribution...
More »How DBT is causing tremendous inconvenience and why most people are unhappy with it
-CounterView.org A survey, coordinated by well-known academic Jean Drèze and researcher Nazar Khalid, has found an overwhelming popular opposition to the direct bank transfer (DBT) experiment in Jharkhand. Details of the survey: Glitches in the system have deprived people of nearly half of their food rations in the last four months. When they do get their rations, people spend 12 hours collecting them, on average. Most people are opposed to the new...
More »PNB lost four times more money than SBI did to 'jewel thieves' -Chethan Kumar
-The Times of India BENGALURU: Highly Cash-dependent traders in gems and diamonds have cost banks at least Rs 5,000 crore through 90 defaults, bank-wise and company-wise data on wilful defaulters compiled by the Federation of Bank of India Staff Unions (FBISU) shows. The top loser is PNB, with just nine defaulters but a loss of Rs 1,790 crore — four times the amount SBI lost. SBI reported the most number of wilful defaults...
More »Assured return offers by realtors and jewellers to be treated as Ponzi -Sidhartha
-The Times of India NEW DELHI: The proposed law to crack down on Ponzi schemes will bar real estate developers that offer fixed returns till possession as well as schemes from jewellers as the government believes that they are “unregulated deposits”. The clampdown on realtors, jewellers and other deposit-seeking entities is part of the Banning of Unregulated Deposit Schemes Bill, which was cleared by the Cabinet on Wednesday and is expected to...
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