India’s rapidly growing private microcredit industry faces imminent collapse as almost all borrowers in one of India’s largest states have stopped repaying their loans, egged on by politicians who accuse the industry of earning outsize profits on the backs of the poor. The crisis has been building for weeks, but has now reached a critical stage. Indian banks, which put up about 80 percent of the money that the companies...

Can we afford to leave MG-NREGA alone? Why is the civil society crying foul? Are the rural activists demanding too much? Is the UPA-II trying to take back what UPA-I gave before the elections? Let us face it, the MG-NREGA is in a big crisis. NAC members like Aruna Roy and Jean Dreze have alleged (See links below) that the present remuneration of rural workers is declining by the day and it...

With the aim of bringing transparency in work, Jan Mitra Nyas, a trust constituted by the NGO People’s Vigilance Committee for Human Rights (PVCHR), organised its social audit at a hotel in Jagatganj area in Varanasi on Wednesday. The trust presented all its balance sheets, account bill vouchers and progress reports, before the people from areas where the trust’s projects are being run, including both representatives of these programmes and...

The microcredit revolution has been celebrated for helping poor women in developing countries start small businesses. By borrowing money for purchases such as a buffalo or sewing machine, the women were able to help lift their families out of poverty. But critics say the microcredit model has been perverted by commercial greed in India, with reports of abusive collection methods and sky-high interest rates. "What began as a simple, innovative model...

Take a lesson from Commonwealth Games mascot Shera and “leap ahead” instead of whimpering like a “timorous puppy”, a food rights campaigner has said in a sharp attack on Sharad Pawar. The criticism in a Delhi newspaper has come from Belgium-born Jean Dreze, a prominent member of the Sonia Gandhi-led National Advisory Council. He is ostensibly riled by reports that Pawar’s food ministry has rejected two of the council’s key proposals...