Informatics Publishing Limited

M. S. Haque , K. G. Karmakar

Abstract

Because of their very fast growth bamboos fit well in the bank's lending system i.e. bamboos are bankable species. Annual income of bamboos after a short period of establishment makes them suitable under Farm/Agroforestry. A locally available bamboo named Kanak Kaich (Bambusa affinis) in Tripura has been found to be commercially viable with high returns on annual basis. The bamboo is raised by the farmers on dry land not suitable for paddy cultivation and is used for specific purposes viz. fishing rods , javelines , umbrella sticks , poles etc. The major markets are: Kolkata , Punjab and Haryana. The plantations give high returns with IRR of more than 50%. The bamboo bas also export potential.

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K. G. Karmakar ¹

Affiliations
1 SP Jain Institute of Management and Research, Bhavans campus, Munshi nagar, Dadabhai raod, Andheri-West, Mumbai, PIN: 400058, IN

Abstract

Commodity derivatives trading spanning over 130 years, has had a long and chequered history in India. Mumbai's Cotton Exchange is one of the world's oldest cotton exchanges founded in the 1850's, even before the country's stock market exchange came into existence in 1875.It was essentially a tale of two cotton markets , the spot market at Sewree and the futures exchange at Kalbadevi and was formally called the East India Cotton Association. Over the years the Mumbai Cotton Exchange evolved since 1921 and is still in existence though trading volumes are low in comparison with MCX and NCDEX. The commodity derivative exchanges have witnessed several ups and downs for the past 13 decades including a ban on such trading for almost a decade after the outbreak of Second World War in 1939. On January 26 1949, the subject of futures trading came under the Union list. The Central Government passed the Forward Contracts (Regulation) Act, 1952 (FCRA) and established the Forward Market Commission (FMC) in 1953. Under the FCRA, futures trading were allowed in select agricultural commodities and their products under the auspices of Associations recognized by GOI. By mid 1960's around 30 Associations were recognized for trading of commodities. Trading was subject to severe regulatory measures. Following the launch of economic reforms early in 1990s, the World Bank and UNCTAD submitted a joint report to GOI, recommending the revival of futures trading in farm commodities and their products to render trade in such commodities competitive in the world markets after the envisaged removal of trade and non-trade barriers. As a result, futures' trading was revived after a lapse of three and a half decades, towards the close of 20th century. The onset of the new millennium thereafter witnessed the setting of three new national commodity exchanges. At present, there are almost two dozen commodity exchanges, including 3 national exchanges. Trading takes place in about a 100 commodities.

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K. G. Karmakar ¹, N. P. Mohapatra ²

Affiliations
1 National Bank for Agriculture and Rural Development (NABARD), IN
2 Financial Inclusion Department, NABARD, IN

Abstract

From the mid-sixties onwards, various attempts have been made to address the issue of endemic poverty in India. Inspite of various efforts, poverty alleviation still remains an elusive goal. The infamous Bengal famine or Naanka famine still haunts the memory of affected States such as Bengal, Bihar and Orissa. In the KBK (Koraput, Bolangir and Kalahandi) region as well as other tribal areas, even the sale of children remained at times a means to the survival of families in times of famine due to natural calamities. In Bastar and Kanker areas of Chhattisgarh, the barter economy still exists as the tribals exchange baskets of fruits for salt and kerosene. Inspite of a wide net work of banks and other formal and informal credit systems, it is estimated that 70% of the population are excluded from the financial system. This paper attempts to study the initiatives taken over the last 60 years in the country to ensure outreach of the banking system for the last mile clients.

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