Issue: October 2016
 
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Cover Story 
Textiles’ – the word brings up images of beautiful drapes – cotton, silk, chiffon, lace. Whether it is the material draped on the figurine of the lady f...
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Lead Article

Textiles the word brings up images of beautiful drapes cotton, silk, chiffon, lace. Whether it is the material draped on the figurine of the lady from Mohenjadaro, the stylish drapes of Cleopatra, the ball dance gowns of the Victorian Era or the lovely dresses worn by our own queens and princesse...

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Articles
  Tapping Sustainable Energy Alternatives
  The second lead article, which is also focus article, is written by Shri N Bhadran Nair. Citing a report of the World Health Organisation, the author has advocated for tapping sustainable energy alternatives
  Financing Renewables in India
  The third article is written by Shri P C Maithani, Adviser, Ministry of New and Renewable Energy. He has focussed on renewable energy resources
  Steps to Achieve India’s Solar Potential
  The special article is written by Sumant Sinha, Chairman and Managing Director of ReNew Power. He opines that India must also honour its global commitments on curbing greenhouse gas emissions
Roadmap to Financial Inclusion: Pradhan Mantri Jan Dhan Yojana
Pravakar Sahoo

The state of financial inclusion in India, measured by any standard, leaves much to be desired. As in 2012, only 35 per cent of Indians older than 15 years had a bank account in a formal financial institution; in developing countries worldwide, the average is 41 per cent (World Bank 2012). Because of the Reserve Bank of India’s drive for financial inclusion, the number of bank accounts increased by about 100 million during 2011–13. today, there are 229 million basic bank accounts. Access to formal financial institutions has improved gradually, but thousands of villages still lack a bank branch; less than 10 per cent of all commercial bank credit goes to rural areas, where around 70 per cent of the total population lives. Thus, the need for financial inclusion programmes is beyond question. Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on 28th August, 2014. Initially, the PMJDY targets the opening of bank accounts for 7.5 crore families in a year, by August 15th, 2015. Around 2 crore bank accounts were opened on the first day of the scheme’s launch. Eventually, the target is to include every eligible Indian in the banking system. In Phase 1, all households will be provided a basic account, financial literacy will be taken to the micro level and the modus operandi for direct cash benefits will be put in place. Phase 2 intends to extend financial services to these basic account holders and provide them micro-insurance and pension. As it is difficult to spread bank branches across all unbanked areas, Bank Correspondents (BCs) will be deployed on a large scale to help execute the plan.

 
 
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Do you know? : What is Forensic Auditing
Forensic auditing refers to the auditing with the main aim to employ accounting techniques and methods to gather evidence to investigate the crimes on financial front such as theft, fraud etc.
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