It has been lauded as one of the most promising ways of using the market to reduce poverty and boost economies in some of the world's most deprived areas. But in recent months the work of microfinance institutions (MFIs), which provide small loans to poor people with no access to traditional banking services, has come under scrutiny after a spate of suicides in the Indian province of Andhra Pradesh was linked...

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...

Bagisa Shramik Santha and Asom Majuri Shramik Union, two registered unions of the state, have demanded that the tea industry should hike the daily wages of labourers on a par with wages given to workers under the National Rural Employment Guarantee Act (NREGA) schemes. The unions have over one lakh members across the state. The Asom Majuri Shramik Union has its headquarters in Silchar while the Bagisa Shramik Santha has it headquarters...

The debate on genetically modified crops is gaining momentum again. However, this time, it seems the engineered food is losing ground to traditional crops. Eleven farmers from Andhra Pradesh, Karnataka and Tamil Nadu made a series of submissions explaining the havoc wrought by Bt cotton on their farms. Their main contention was that Bt cotton had not given them economic benefits. As a matter of fact, they had become poorer, their soils had...

Uttar Pradesh cabinet minister Laxmi Narain today claimed the state's new rehabilitation policy for land acquisition was "the best" in India. Addressing farmers, the Minister claimed he has studied the land acquisition policies of all states and the new rehabilitation policy in UP was formulated by a committee after scanning and evaluating other states' policies. He said that under the new policy farmers will get one time payment of Rs.1.85...