It could not have been a more opportune moment. With Planning Commission under attack for being "arm-chair advisers," the Plan panel on Tuesday organised a special screening of Bollywood film, " Peepli Live", to learn lessons and sensitise senior officers and experts about ground realities and public perception. Plan panel has been drawing flak from implementing ministries of ignoring ground reality while preparing its plans. Prior to the screening of...
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Mining Bill as per GoM suggestions: Secy
Amid a furore over 26 per cent profit-sharing with locals under the proposed new mining law and demands for watering down the provision for PSUs, the Mines Ministry today said its final draft will go with the recommendations of the Group of Ministers. "Based on the discussion of the Group of Ministers (GoM), the final draft of the new mining bill is being prepared by the Mines Ministry and will be...
More »Banks may find it tough to ensure microFinance companies don’t charge high rates
Banks will have to put in place a mechanism to verify that microFinance institutes (MFI) they Finance do not charge exorbitant rates to the final borrowers. The Finance ministry has asked banks to ensure that MFIs, whom banks are financing, do not lend at rates more than 24% — all inclusive rates — to the ultimate borrowers. Some banks have recently inserted a clause while lending to MFIs that they...
More »RBI targets mobile banks to cover rural India in 5 years by Vaibhav Aggarwal
Reserve Bank of India has set a projection of fove years by which mobile banks would be penetrating to every village of India, said KC Chakraborty, Deputy Governor of RBI. Chakraborty firmly said that in five years time every villager would be financially included. Mobile bank is a movable vehicle which reaches a particular region at a specified time. Every mobile bank is authorized by some bank and is operated by bank...
More »Despite good yield, food prices to stay
Output of major crops, including sugar, will be better or equal to 2008-09’s production figures, but food prices are unlikely to return to that year’s levels. Food inflation may have permanently changed to stay on the higher side, economists have said. For a UPA government battling high prices, this could be a gloomy piece of news. A surplus monsoon has boosted acreages of all crops, according to food ministry figures. Output of...
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