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...
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Haryana asks banks to reduce rate of interest
Haryana Chief Minister Bhupinder Singh Hooda today said nationalised banks should reduce interest rates as has been done by state cooperative banks on short-term loans to small and marginal farmers in the state. This issue was raised with State Bank of India officers here today on the occasion of signing of Memorandum of Understanding (MoU) between Lakshya Food India and State Bank of India (SBI), an official release said. The...
More »Nikhil Dey, Convener of the National Campaign for People's Right to Information interviewed by Bharat Dogra
Nikhil Dey, convener of the National Campaign for People's Right to Information, has been in the forefront of the RTI movement. He speaks to Bharat Dogra about the achievements of the RTI and the challenges ahead: How do you assess the overall impact of the RTI? Sceptics say corruption is increasing more than even before. What I can assure them is corruption would have been much higher without the RTI. In schemes...
More »Sweet pill
Uttar Pradesh is not a state readily associated with dynamic economic reform. But the state has taken giant strides in reforming one of the least reformed industries in India: the sugar industry. The country’s second largest sugar producing state after Maharashtra is undertaking an aggressive privatisation of its state-owned sugar mills. It has, just recently, successfully sold off 10 of the 11 operating units of the state’s Sugar Corporation to...
More »Illegal mining threatens Sariska by Rachna Singh
Despite crores being spent in the name of conservation and Project Tiger, illegal mining activity is back in full gear in the protected area of Sariska Wildlife Sanctuary. "Rampant mining is going on at Jaisinghpura, Malana, Goverdhanpura, Palpura and Jamwa Ramgarh, in spite of the Supreme Court's 1991 order banning mining in the area. After SC's order, 215 mines were closed. But recently, some of them have restarted activity in the...
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