The Supreme Court today spoke up for a 25 per cent school quota for the underprivileged, asking private schools who have challenged the Right to Education Act on this ground to explain how they were claiming a right to fill all their seats as they pleased. A three-judge bench, headed by Chief Justice S.H. Kapadia, asked the schools to explain under what law they were claiming the right to decide their...
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Sen push for right to health
Amartya Sen today said primary healthcare should be more accessible to people and sought the public sector’s support in healthcare. “I strongly say yes to right to health,” the Noble laureate said after formally announcing the launch of Pratichi (India) Institute in Salt Lake. The economist, who has been conducting research and development work in the fields of education, health and gender equality for the past 10 years, said Pratichi Trust, which...
More »ADB plans to set up $250 mn guarantee fund for microfinance by Aveek Datta and Anup Roy
India’s microfinance institutions (MFIs), under pressure because of stricter rules in their largest market Andhra Pradesh and the consequent slump in repayments there, may get a boost from the Asian Development Bank (ADB). ADB is constituting a $250 million (around Rs1,135 crore) facility to offer guarantees against loans to MFIs extended by banks in the Asia-Pacific region where it operates, including India. The move is aimed at encouraging banks to lend...
More »Malegam report to hurt microfinance by Krishnamurthy Subramanian
An empirical analysis of the microfinance industry shows that the recommendations of the Malegam committee would have significantly more detrimental consequences than have been anticipated in the report. The microfinance exchange (www.mixmarket.org) is the most comprehensive data source for MFIs across the world. Table 1 displays the information on several parameters of Indian MFI performance for 2009. Column 2 displays the average values of performance parameters across 88 Indian MFIs....
More »SKS may shut shop in Andhra Pradesh by Dinesh Unnikrishnan & Aveek Datta
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 “If the state Act is not repealed, we wouldn’t have a choice but to shut shop in Andhra and leave,” founder and chairman Vikram Akula said.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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