SKS Microfinance Ltd on Thursday said it may downsize operations and even “shut shop” in Andhra Pradesh, which accounts for a quarter of its business, if the southern state retains its recent Act governing microcredit operations. “If the state Act is not repealed, we wouldn’t have a choice but to shut shop in Andhra and leave,” founder and chairman Vikram Akula said. India’s largest and only listed microfinance institution (MFI) would not,...
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Antibiotics may get costlier by Khomba Singh
The government may levy duty on two important drug ingredients imported from China and Mexico to protect local suppliers. The move could increase prices of popular antibiotics for consumers besides threatening business of about two dozen small drugmakers. The commerce ministry has recommended anti-dumping duty on Penicillin G Potassium and 6 APA, after Indian suppliers complained Chinese and Mexican firms are shipping it at a low price to kill competition from...
More »Punjab rules not in sync with RTI Act: CIC by Jasneet Bindra
Taking on the Department of Information Technology and Administrative Reforms, under which the state information commission falls, Punjab CIC RI Singh asserted that the rules framed by the Punjab government were in conflict with the RTI Act. “The powers to make the rules have been vested with the government to carry out the provisions of this Act and not to thwart them,” he said. Singh said although a formal direction to...
More »Protest outside, adjournment inside
The office of the Punjab Information Commission witnessed a paradox of sorts today. Outside, members of the RTI Activists’ Federation, Punjab, were staging a protest against the Commission for not imposing penalty and stretching cases for years, thereby making justice under the RTI Act a long haul. But inside, a case got adjourned because the counsel for one of the parties was leading the protest outside. After their charter of demands...
More »Honey export ban leads to huge crash in product prices by Amrita Chaudhry
Many bee-keepers in danger of losing livelihood, warn industrialists The ban on export of honey has led to a massive crash in the prices of honey, which has hurt the bee-keepers of the state. Expressing concern about the state of affairs, Kashmir APIaries Exports/ Little Bee Impex CMD Jagjit Singh Kapoor said, “As a result of this ban, honey prices in the country are likely to crash further and the vulnerable...
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