-Live Mint Cabinet clears proposal to give loans at 7% interest rate, and 4% if SHGs repay loans within the stipulated period The federal cabinet has cleared a proposal to give loans to women self-help groups (SHGs) at 7% interest rate, cheaper than the existing 11.5-14%, bringing the cost of loans on a par with those given to farmers. SHGs that repay loans within the stipulated period will be eligible for loans at...
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Rotten agents spoil the Kashmir apple barrel-Ahmed Ali Fayyaz
-The Hindu A NABARD survey says middlemen funded by banks have kept growers captive to high-interest loans Jammu: Kashmir's acres of undulating apple orchards may soon be waste lands, a survey by the National Bank for Agriculture and Rural Development (NABARD) accessed by The Hindu shows. The Rs. 4,000-crore industry has been brought to its knees by a network of middle-order market functionaries comprising pre-harvest contractors (PHCs), commission agents (CAs) and wholesalers...
More »Jairam wants financial institution for self-help groups-Priscilla Jebaraj
-The Hindu "If we are going to be serious about supporting women's SHGs, then we need a development finance institution" Finance Minister P. Chidambaram's proposal to establish a bank exclusively for women - which he described as the highlight of this year's budget - may have garnered applause from across party lines in Parliament and could be set up as early as October; but that hasn't stopped his Cabinet colleague and Rural...
More »Private banks reluctant about rural lending -Dinesh Unnikrishnan
-Live Mint Experts say private banks achieve lending obligations by buying out loans from non-banking entities Most private banks in India have not been able to meet the needs of farmers although they are expanding their rural and semi-urban branch network. This is why the Reserve Bank of India (RBI) is insisting that at least one-fourth of the branches of the new banks that will be given a licence must be located...
More »KV Thomas, Food Minister interviewed by Ragini Verma and Liz Mathew
-Live Mint In an interview, India’s food minister says the Bill is about making the Right to Food a legal entitlement Prospects for the National Food Security (NFS) Bill—United Progressive Alliance (UPA) chairperson Sonia Gandhi’s dream legislation—haven’t looked better. Food minister K.V. Thomas, in charge of fine-tuning the contours of the Bill, is confident of steering it through Parliament during the budget session. In an interview, Thomas said the Bill isn’t merely...
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