-The Economic Times Small and marginal farmers who constitute more than 80% of total farmer households in the country face exclusion from formal financial channels," says the Nair Committee on priority sector lending. The same report says "commercial banks have been prescribed targets since late 1960s for priority sector lending".  The banking system failed the farmers and the needy despite nationalisation, but is there a viable model that could help the millions...

Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...

Prof. Thomas Pogge of Yale University on Tuesday strongly advocated the need for global institutional reforms to eradicate poverty, ensure human rights and secure global justice. He suggested establishing a Health Impact Fund (HIF) to complement the Trade-Related Aspects of Intellectual Property Rights (TRIPS). Prof. Pogge made these observations while delivering the First Dr. Arjun K. Sengupta Memorial Lecture at O. P. Jindal Global University in Sonepat near Delhi. Prof. Pogge said:...

Ankaji Bhai Gangar, a 49-year-old subsistence farmer, stood in line in this remote village until, for the first time in his life, he squinted into the soft glow of a computer screen. His name, year of birth and address were recorded. A worker guided Mr. Gangar’s rough fingers to the glowing green surface of a scanner to record his fingerprints. He peered into an iris scanner shaped like binoculars that...

MFIs in Andhra Pradesh are paying for the sins of their past. Market for new loans has dried up, banks have turned off their spigots while the AP government is content to sit back and watch. It has been eleven months since the Andhra Pradesh government issued an ordinance—later converted into the Andhra Pradesh Micro-Finance Institutions (Regulation of Money Lending) Act—which, the microfinance industry hoped, would be the magic remedy that...