-MoneyLife.in The government’s penchant for painting all legitimate questions about its faulty policy-making as scaremongering or anti-national is getting rather irksome. Prime minister Narendra Modi (at the FICCI annual general meeting) and finance minister Arun Jaitley have both responded to fears over the implications of the Financial Resolution and Deposit Insurance Bill (FRDI Bill) , 2017, by lashing out at critics and reassuring people that the government will protect bank deposits....
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Preparing For Cyprus Moment: Centre May Allow Banks To Use Your Hard-Earned Deposits In Case It Collapses -Kumar Shankar Roy
-Outlook Scary Bail-in clause in FRDI Bill cleared by the Union Cabinet in June 2017 allows banks to finance themselves using depositors money. Priding themselves for being 'cash-less' post demonetization last year, some Indians may come face to face with a horrific post-apocalyptic future where they could be deposit-less too. Yes, this could be a reality unless the government of the day removes the unholy 'bail-in' clause that theoretically allows beleaguered banks...
More »A Comprehensive Guide From RBI on How 'Not' to Lend to Farmers -Bodapati Srujana
-Newsclick.in This might help understand why there is a huge gap between the amount of loans banks claim they have given to the farmers and the amount that is actually received by the farmers. If you ever find yourself with time on your hands, and don’t know what to do with it – here is something that you can do. Just go to the website of Reserve Bank of India, and search...
More »Jean Dreze, development economist, interviewed by Santwana Bhattacharya (The New Indian Express)
-The New Indian Express NEW DELHI: Amid controversial reports of hunger deaths in Jharkhand due to PDS beneficiaries being turned away, economist Jean Dreze says that even official records show that a significant proportion of people are being deprived of food rations every month. In an interview with New Sunday Express, the prime mover behind the NREGA welfare scheme said “this does not mean that Aadhaar is solely responsible for the failures...
More »85% MNREGS wages paid in time this fiscal: Ministry
-PTI According to rural development ministry, there are no preconditions for getting employment under the scheme. New Delhi: The Centre is taking steps to ensure timely payment of wages under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS), out of which 85 per cent of wages have already been paid this fiscal, an official statement said. According to the statement released by the rural development ministry yesterday, there are no preconditions, including...
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