Even before the Reserve Bank of India (RBI) finalizes the guidelines for handing out new bank licences, its draft proposal has evoked unease in the National Bank for Agriculture and Rural Development (Nabard), which oversees the country’s 82 regional rural banks (RRBs). Nabard has taken exception to the banking regulator’s proposal to allow industrial houses to take over RRBs and convert them into full-fledged banks, saying such a move could dilute...
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Farmers slam govt for selling land to pvt firms by Dipak Kumar Dash
Delhi farmers on Sunday demanded that there should be a provision for a judicial review of cases in which government acquired land for public purposes but later sold them at the market price to private firms. Representatives from different villages of rural Delhi made this demand at a mahapanchayat held in Mahipalpur, one of the capital's oldest villages. The farmers had gathered to protest against the "archaic" Land Acquisition and...
More »Delhi claims maximum of Farmers’ loan
According to the National Bank of Agriculture and Rural Development (NABARD) data on loans given out by nationalised and cooperative banks, there are more farmers doing agriculture in Delhi than Madhya Pradesh, Uttar Pradesh, Karnataka and West Bengal. The farmers in Delhi were allotted loan of Rs 22,077 crore in 2009 alone at mere 5% rate of interest, which is the second highest after agriculture-rich Punjab. Delhi’s loan disbursal amount is bizarre,...
More »Panchayat polls: Unusual candidates try their luck by Maulshree Seth
Panchayat elections in Uttar Pradesh this time have seen unusual candidates jumping into the fray. There are teachers, shopkeepers, businessmen, relatives of politicians and even wives of BSP ministers. Some of them took leave from their normal work and some even sold their properties to take part in the polls. All claim they want to serve their village, block or district, but it is alleged that the lure of money pouring...
More »Centre plans to restrict interest rate of MFIs
The Centre is planning to impose a ceiling of 18 per cent on the interest rate charged by MFIs on loans to SHGs. This was indicated by Union Finance Minister Pranab Mukherjee to Chief Minister K. Rosaiah during a telephonic conversation recently. Disclosing this at a media conference here on Monday, Minister for Rural Development V. Vasanth Kumar and Minister for Agriculture N. Raghuveera Reddy said Mr. Mukherjee informed that the...
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