"Will you come in now?" screams 50-year-old Tanhibai Kale of Ganeshpur village in Jhari Jhamni tehsil of Yavatmal, the heart of Vidarbha's suicide country. Lightening streaks across the darkened skies, followed by loud thunder. Her drenched nine-year-old grandson Nandu comes in from the downpour and tries to slink in but not before getting two slaps. "Next, you'll fall ill and we'll have to go looking for money to treat you,"...
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States holding up plan to recapitalize regional rural banks by Remya Nair & Anup Roy
The Union government’s plan to recapitalize 40 of the 82 regional rural banks (RRBs) is at risk as some of the state governments are either delaying or refusing to pay their share of money. Due to this, the government has only been able to recapitalize around 12 RRBs, with the stakeholders collectively infusing Rs. 300 crore. The cabinet had approved the Rs. 2,200 crore recapitalization plan of 40 RRBs in February,...
More »Education subsidy plan misses target by Prashant K Nanda & Remya Nair
An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies. The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a...
More »UID Aadhaar as if People Matter by SG Vombatkere
Media Reports The UID Aadhaar project planning and system design shortcomings and security risks at the national (or macro) level have been discussed elsewhere.1 The present article views the Aadhaar project at the system operational level, with practical considerations based on observed and probable functioning at the service delivery end. Consider the following report in a local daily, The Mysore Bugle: Food riots: PDS outlet vandalised Mysore: August 2, 2015—The PDS outlet in Ashokpuram...
More »Aadhaar alone isn’t enough for a full-fledged bank account by Surabhi Agarwal, Remya Nair & Anup Roy
The finance ministry may have amended the Prevention of Money Laundering Rules, 2005, to notify Aadhaar as adequate to meet KYC norms for opening bank accounts, putting it alongside other identity proofs, but banks are still confused Is a unique ID number or Aadhaar number issued by the Unique Identification Authority of India (UIDAI) enough to satisfy the so-called know-your-customer (KYC) norms that banks have to ensure every account they open...
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