Financial Accountability Network – India
Striving to Make Financial Institutions Accountable
This is the fifth in a series of report cards by the Financial Accountability Network India, that attempts (even if not exhaustively) to glance through and highlight a few of the claims and reality of the government’s performance across various sectors from a financial and economic lens. While the govt…
The historic farmers’ agitation against the farm Bills pushed by the Modi government was a desperate fight back against what was being touted as Indian farming’s “1991 moment”. The Bills would have made farmers directly negotiate with private corporations instead of the mediation of a state-regulated marketplace. It took about…
An inevitable result of long neglect of scientific warnings, of gross financialization of nature and total lack of Environmental and Social Safeguard Policies! Joshimath woke up to large cracks on roads and houses with muddy water seeping from them, not in one or two but in over 600 houses! News media and…
On April 26th 2022, women of Janardanpur, Chhattisgarh hugged trees of the Hasdeo Aranya forest to prevent them from being felled by the forest department and did so successfully. But the forest department came back in the early hours next day and felled over 300 trees. This is following the clearance…
Pradhan Mantri Jan Dhan Yojna (PMJDY) was launched in August 2014 by the Prime Minister Narendra Modi with the aim of providing banking facilities to the poor and to increase financial inclusion in the country. It aimed to open at least one basic banking account for every household and provide…
On 24th March, 2020, the Prime Minister of India has declared the nationwide lockdown due to global widespread of Covid 19. As a result, the entire businesses, works, and economy have shut down leading to enormous losses of jobs and livelihood. Consequently thousands of daily wage labours from different states (mainly…
The savings of people deposited in banks form the capital of banks which banks lend to borrowers. Banks earn interest on the loans issued to borrowers. The cost of operating expenses including salaries comes from this interest on the loans issued by banks. The saving account depositors receive interest on…
The primary objective of nationalization of banks was to reach out to each and every last person of our society. The purpose was to provide credit facilities to poor and marginalized sections and free them from the clutches of moneylenders. Banks were to provide credit to small and medium businesses.…