Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
Bringing in the untapped informal sector into the formal one will benefit business.
Days after the PM announced a financial inclusion package, a look at how banks and insurance firms are going about it and what lies ahead.
Prime Minister Narendra Modi on Friday addressed the nation on the 68th Independence Day from the ramparts of the historic Red Fort for the first time.
The absence of a clear underlying economic ideology in the Budget was quite evident, say experts.
Prime Minister Narendra Modi's maiden speech from Red Fort last Independence Day outlined some grand programmes. Shehzad Poonawalla does a quick check on the progress made.
Chief Economic Advisor Arvind Subramanian spoke on a wide range of issues -- from GDP growth and fiscal consolidation to job creation and GST.
Jayapur, with a population of a little over 4,200, was like most other villages before Prime Minister Narendra Modi adopted it on November 7.
Modi needs to get his act straight and get it straight soon. Five years down the line, Modi may continue to have support from his ardent supporters, but for the masses he would lose the plot on his sudden inability to tell a good story. After all in the end, all that matters is a good story. Even if the man is remarkable and the story simple, it is always a good story that leaves a lasting impression.
Modi's name sparks muted enthusiasm, scepticism among youth; people expect better development pace from the prime minister
'In a country like ours, people talk about wanting to be like Singapore, but when it comes to paying taxes, they start criticising.' 'The medicine is bitter, but the long term effect is good,' Senthil Natarajan, who runs Kovai Pazamudhir Nilayam, a one of its kind fruit and vegetable chain in Tamil Nadu, tells Rediff.com's Archana Masih.
Public sector banks are inefficient, poorly governed and beset by largescale corruption.
Mudra Bank will be a Rs 20,000-crore institution, which would "primarily be responsible for refinancing all micro-finance institutions.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
Within two weeks of the speech, the prime minister flagged off the Pradhan Mantri Jan Dhan Yojana, and the day was marked by announcing its outcome on the very first day of its implementation.
There is a link between objectives and commitments.
Excerpts from a speech on the Supplementary Demands for Grants, December 15.
India has undermined its own credibility.
In the run up to three years of the National Democratic Alliance government, Minister of State for Commerce and Industry (Independent Charge) Nirmala Sitharaman says it is time to consolidate some of the major initiatives as well as take new steps.
'A drought is like a fire. It licks everything in its wake - crop, trees, animals, humans...' The plains of the Ganga in Bihar have a raw, unmatched, beauty, but also bear the anguish of its farmers.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
Indeed, Prime Minister Narendra Modi, who as Gujarat chief minister was considered close to certain business groups and industrialists, has hardly been seen with any Indian business head.
Many things could play spoilsport for the Indian economy.
People elected me to fight corruption, I'm doing what they told me to do, Modi said.
The three main regulators have different approaches to grievance redressal and different standards to stop harmful from coming pitched at the consumer.
'My God, what do I say? It's shocking!' 'They had 27 MLAs in 2012. And now they have just seven.' 'My party (the Apna Dal-S) contested 11 seats and won in nine.'
The success of the government will depend substantially on the quality of its team of key ministers, officials and advisors
Control over PSU banks is what is allowing the government to drive this scheme.
The president outlined the government's agenda in the coming financial year in his customary address to the joint sitting of both the Houses of Parliament.
The government is following a path where it will not be irresponsible or profligate with public money but will intervene in the interest of the poor
After one year in power, Prime Minister Narendra Modi is pretty much on the back foot, even if he continues to display bravado in his public pronouncements. He knows within his heart that he has wasted a lot of his political capital without getting much in return, says M K Venu.
This Budget plans for an increase to 10.3% of GDP from 9.9%.
"Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India," he said.
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
Supreme Court allows more instruments to use the biometric card.
Even if they score administratively, state governments ruled by the party suffer from an inability to communicate positively, say observers.
Kickstarting the Bharatiya Janata Party's poll campaign for Delhi, Prime Minister Narendra Modi on Saturday wooed voters with a host of promises as he singled out 'anarchist' Aam Aadmi Party leader Arvind Kejriwal for attack and asked voters to punish him for "wasting" one year.
Dr Ashwani Mahajan, all India co-convenor of the Swadesh Jaagran Manch and an associate professor at the Delhi University, discusses the state of the Indian economy in an interview with Rediff.com's Shobha Warrier.
'Obama probably thinks, "He is quite a guy!" Americans on Capitol Hill think, "He has guts. He is a big player".' An Indian official explains the importance of the Modi visit to Sheela Bhatt/Rediff.com
'Modi as chief minister did a superb job of rehabilitation after the Kutch earthquake of 2001. He can use that hard-earned expertise for the benefit of the people of Kashmir too -- but only if they let him do so,' says T V R Shenoy.
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