More hands join to support the cause of `Kisan Swaraj' and `safe food for all, sans Bt'. Adding momentum to this cause, the Kisan Swaraj Yatra reached Bangalore on Sunday. At a public meeting in the Institute of Agricultural technologists (IAT), Kodihalli Chandrasekhar, president, Karnataka Rajya Raithara Sangha (KRRS) assured that over 5,000 farmers from the state will join the yatra when it ends at Raj Ghat, in New Delhi, on...

A patent is an artificial property right; it is created by the government, and would not exist if there were no government or if it did not grant patents. It is then for the government to decide whether to grant a patent or not. But a government would not normally make the decision arbitrarily; it would follow some rules. The rules universally followed are novelty, non-obviousness and commercial value. A...

Public uproar over 20 suicides in two months has forced the Andhra Pradesh government to act to regulate micro-finance institutions. On October 14, the state government brought an ordinance making it compulsory for MFIs to register themselves, declare the effective rate of interest they charge, ensure that no security is sought for loans and no coercion is used for recovery. Non-compliance will be punished with a three-year prison term and a...

SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani  has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...

Interest rates on loans from microfinance institutions (MFIs) are likely to be capped at around 24 per cent. Currently, MFIs are charging 26-40 per cent on small loans extended to their rural customers — many of whom are yet to get even a bank account — while urban customers get personal loans at 12 per cent from commercial banks. Though neither the RBI nor the government has fixed any ceiling on...