The earlier draft covered only non-NBFC MFIs incorporated as trusts and non-governmental organizations that constitute a very small part of the total industry The proposed microfinance Bill for governing India’s Rs. 22,000 crore microlending industry is set to give more teeth to the Reserve Bank of India (RBI) to regulate larger microfinance institutions (MFIs). This will be done by removing such entities from the purview of laws enacted by state governments...

The new bribery revelations, a rigged process to import reactors and safety-related concerns must lead to the long-blocked scrutiny of the nuclear deal by Parliament. The world's worst nuclear accident since Chernobyl raises troubling questions about India's plans for a huge expansion of its nuclear power programme through reactor imports. Given its low per-capita energy consumption, India must generate far more electricity to economically advance. So it needs more nuclear-generated power....

Despite Maharashtra Chief Minister Prithviraj Chavan's assurance that the government would not go ahead with the Jaitapur nuclear power plant unless it was fully secure, the Nuclear Power Corporation of India Limited (NPCIL) has already sought tenders for building a concrete testing laboratory and a meteorological laboratory at Madhban, the proposed site of the plant. Long-term dangers cited As per the advertisement issued in a Marathi daily on Tuesday, the NPCIL called...

Union Environment Minister Jairam Ramesh has said that though India needs to learn appropriate lessons from the crisis at Japan's nuclear plants, the country cannot give up on nuclear energy. "What has happened in Japan is very serious. We will have to learn appropriate lessons and whatever additional safeguards, additional precautions are required we must take, but I don't believe India can abandon nuclear energy (programme)," Ramesh told mediapersons here yesterday. As...

The colossal hubris, ignorance and smugness of India’s nuclear czars take one’s breath away. The day Japan’s crisis took a decisive turn for the worse, with an explosion in a third Fukushima reactor and fresh radiation leaks, Department of Atomic Energy (DAE) secretary Sreekumar Banerjee declared that the nuclear crisis “was purely a chemical reaction and not a nuclear emergency as described by some section(s) of media”. Nuclear Power Corporation...