Nobel Laureate Muhammad Yunus resigned as managing director of Grameen Bank, the micro-credit network he pioneered, expressing the hope that it would retain its "independence and character". The government has rejected the demand by the bank's directors that Yunus be made the bank's chairman and has also turned down the argument of the bank being "independent", saying it is subject to the laws governing the banking sector. In his resignation letter made...

A day after Congress leader Rahul Gandhi took centre-stage putting his party's weight behind protestors over land acquisition in western Uttar Pradesh, the government on Thursday said it would introduce a new land acquisition bill having provisions for better compensation and rehabilitation measures in the next session of Parliament. "We must have a new land acquisition law. Government has drafted a new act that has provisions for better compensation, rehabilitation and...

President Pratibha Patil has given her assent to the ordinance that seeks to extend the tenure of the Board of Governors of the Medical Council of India (MCI) by another year. A gazette notification in this regard was issued on Wednesday. The tenure of the Board was to expire on May 14. The extension was earlier approved at a meeting of the Union Cabinet last month. The ordinance would have to be...

The 1985 Lokpal Bill destroyed the raison d'etre of the institution of an ombudsman, but all successive governments copied it. PUBLIC anger was understandably aroused over the gross delay by Parliament in the last 40 years to enact a Lokpal Bill and with the toothless one that the government sponsored. It is not widely known that the delay was aggravated by deception and fraud in 1985. It was, however, emulated by...

The huge support for what Anna Hazare espoused came against the background of widespread corruption and government inaction. THE Anna Hazare mania that gripped large sections of society for five days from April 5, resulting in the government capitulating to his demand for including civil society activists in the committee for the drafting of an anti-corruption law, has baffled many people. The groundswell of support for his cause took the...