"Data from the Reserve Bank of India conclusively points to the skewed distribution of banking institutions across the country. Clearly banks have an urban bias, more so a fondness for the metros that have been the largest beneficiary of bank office expansion, especially since 2004. Given the urban-centric nature of India's growth so far, that is understandable; what is not is the absence of banking services in the farm sector in general.

In the two years to May 2009, some 25 million no-frill accounts were opened but just 11 percent of them were found to be operational; banks are reluctant to invest in technology and offices. For their part, farmers too have been reluctant to visit bank offices. Almost half of the farmers had not accessed bank credit."

"Indonesia's central bank has confirmed that it is examining the idea of redenominating the currency to make transactions more efficient. Rumors of a possible redenomination have already sparked concern among the business community and official clarification was needed to allay fears that the move would involve a devaluation of the currency. The Bank Indonesia governor was at pains to stress that the value of the currency will remain the same, and that the move was completely different from a devaluation, a step usually taken when inflation is no longer controllable.

He said the redenomination of the rupiah would have a number of benefits, including reducing inflation and increasing efficiency in the move toward a cashless society. There are some prerequisites to be met for the successful implementation of the idea. The redenomination process requires a stable economy with low inflation, tight fiscal discipline and strong political will."

"PRC's economy will still be in a golden period of development in the next 10 years, and it will enjoy an annual growth rates in the excess of 9 percent. China is currently in a period of rapid urbanization with each promoting development of the other. Its current official reported rate of urbanization is 46.8 percent, which is far lower than the average figure for other nations at the same stage of economic growth.

Another factor is the renewal of energy production. China has to upgrade its production capacity to alter its ways of growth via transforming a few high energy or fuel consumption industries and to eliminate some outdated energy production methods."

"Almost 80 percent of Pacific islanders lack access to formal services, including savings accounts, according to a group of bankers. Requirements for opening bank accounts varied from country to country and, in some cases, presented major hurdles for those trying to open an account.

At the meeting, discussions also centered on reviewing current regulations as well as new mobile money systems such as those introduced by Vodafone and Digicel in Fiji. The Central banks representatives said these presented opportunities to Pacific Islanders and posed challenges to the region's central banks."

"Parts of northwest Pakistan inundated by the worst floods in 80 years face life-threatening food shortages. It's too early to gauge the economic costs of the flood but they are likely to be staggering. The mainstay agriculture industry has been hit hard. Thousands of acres of crops have been destroyed in the Punjab agricultural heartland alone.

Rice exports may be hurt while the country could see more spending on imports of cotton and sugar. Before the floods hit, a million people were already forced from their homes in the Pakistani northwest because of fighting between the army and Taliban militants."

"Remittances are up in Tajikistan and the Kyrgyz Republic, various sources confirm. The National Bank of Kyrgyzstan reports that in the first five months of this year, remittances rose 32.6 percent over the same period in 2009 ($398.5 million versus $300.4 million). Most of the money came via banks in Russia and Kazakhstan. In Tajikistan, in the first four months of 2010, wages sent into the country from workers abroad were up 24 percent over the same period in 2009.

Still, experts expect the Kyrgyz Republic's economy to continue suffering from the recent unrest. With tens of thousands of the Kyrgyz Republic's most educated citizens leaving the country with their families."

"The vast majority of the rural population in India is deprived of electricity leading to widespread use of kerosene. Despite prolific electrification, 65 million households still have to depend on kerosene oil even for lighting purposes. Given this situation, there is an alarming need to revisit electrification in India. The solution could lie in providing off-grid solutions for the thousands of villages by harnessing new and renewable sources of energy.

Solar lights provide a clean, versatile source of light to millions of households. A capital subsidy of 30 percent has been assigned and loans at 5 percent are extended to facilitate further endeavors for harnessing alternative energy sources."

"PRC may invest more than 100 billion yuan ($15 billion) in alternative-energy vehicles during the next 10 years to boost the industry, the Shanghai Securities News said. Automakers plan to increase output of alternative energy-powered vehicles to meet demand in China, the world's biggest auto market.

China already subsidizes purchases of energy-efficient cars to help cut emissions, potentially increasing sales of the vehicles by more than 400 billion yuan, the government said. China aims to become the world's largest market for renewable-energy vehicles by 2020."

"Viet Nam is expected to pay off more than $1 billion of its foreign debt, including interest, this year. The figure will continue to surge in the next six years, a news report said. Annual foreign debt repayment could reach $2 billion and may fall gradually after 2016, according to estimates by experts at the Ministry of Finance.

Viet Nam's foreign debt ratio through the end of last year has risen to 39 percent of GDP, the highest level since 2005, according to the Finance Ministry. Total external debt, including government debt and other loans guaranteed by the government, amounted to $27.9 billion. The ministry said the debt was still at a safe level."

"New jobs and better employee benefits could be on the cards for Sri Lankan workers as Japan contemplates a free trade request put forth by the country's government. The agreement will open up new doors with regards to cross-border business between the two countries.

The move forms part of concerted efforts made by the Sri Lankan government to capitalize on trading prospects with other nations and make the most of its international relations to push for greater economic associations and opportunities. At present Sri Lanka is in talks with the Asian Development Bank to secure funding for building a motorway to connect the capital Colombo to the war-torn areas of north-east Sri Lanka."

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