Heavy security bandobast is in place for the third phase of panchayat elections which will take place tomorrow in 61 blocks of 20 districts, with many of the areas considered rebel strongholds.This phase covers as many as 999 panchayats where 40,471 candidates are in the fray for 12,011 posts of gram panchayat members, mukhiyas, panchayat samiti members and zilla parishad members. The electorate strength is over 32.58 lakh.“Polling parties have...
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Experts group to study NAC proposals on food security Bill by Gargi Parsai
Led by C. Rangarajan, it has been appointed by Manmohan In a significant move, Prime Minister Manmohan Singh has formed an experts group chaired by the chief of Prime Minister's Economic Advisory Council, C. Rangarajan, to examine the recommendations of the Sonia Gandhi-headed National Advisory Council on the proposed food security Bill. The move surprised members of the council who met here on Friday to discuss the draft of the National Food...
More »Black swan in micro-finance by Ajit Ranade
The SKS IPO and the Andhra Pradesh ordinance have suddenly changed everything. Will it be the death knell or will it usher in a reformed and healthy industry? There are three basic facts about micro-finance in India. First, most of what is described as micro-finance industry is actually micro-loans. There is hardly any provision of micro-savings, micro-investments, micro-insurance or micro-pensions. This is mostly because of regulatory reasons, i.e. accepting money...
More »New loan sharks by S Nagesh Kumar
The rural poor in Andhra Pradesh, a State showcased as a model for SHG-bank linkage, are caught in the vortex of microfinance. WITHIN a decade of their coming into operation, microfinance institutions (MFIs) have dealt a serious blow to the economy and the well-being of thousands of families in rural Andhra Pradesh. Harassment by their collection agents has allegedly driven at least 60 borrowers to death, and the number is...
More »Obama Visit and Indian Agriculture: Profit Surge for American MNCs and Peril for Indian Farmers! by Vijoo Krishnan
A lot has been said and written about the visit of Barack Obama, the President of USA to India. The corporate media was in the usual over-enthusiastic drive to bring to its readers and viewers all minute details about his visit from where he stayed and what he ate to how many warships, planes and cars accompanied him and how a whopping $200 million was spent per day for the...
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