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The majority at the margins -Jayati Ghosh

-The Indian Express Protests by the people against inequality are producing governments that move exactly in the opposite direction We all know that the world is an unequal place, both across and within countries. We also know that across the world, people are expressing their anger and disgust at this inequality. This is increasingly revealed in extreme and often paradoxical political results. In the US, a vote against the establishment has just...

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Towards less-cash agriculture: Well before demonetisation, low Credit-driven model came up in Dewas -Vivian Fernandes

-The Financial Express In Madhya Pradesh’s tribal districts of Dewas and Khargone, the NGO, Samaj Pragati Sahayog, discourages cash transactions for agricultural inputs. The interest rates are usurious and vary according to commodities. For fertiliser, it is dheda—loan for the stuff has to be repaid 1.5 times over by the end of the harvest season. For pesticides it is sawa, or 1.25 times. Even barter can be extortionate. One quintal of...

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'Have money, can't lend!' -TCA Sharad Raghavan

-The Hindu The ongoing repercussions of the government’s decision to demonetise high-value currency notes are being felt in particular by cash-intensive sectors such as the microfinance industry, according to microfinance company Satin Creditcare. “It’s been a pretty tough time (post demonetisation),” H.P. Singh, chairman and managing director of Satin Creditcare, said in an interview. “The cash supply position has been very bad in the northern states of Uttar Pradesh, Punjab… in both...

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Impure honey eats into small producers' margins -Hiren Kumar Bose

-VillageSquare.in Independent and small beekeepers are uniting against adulterated and diluted honey sold in the domestic market by companies fighting a price war Amravati (Maharashtra): After a long hiatus of eight years, the purple-colored Karvi flower (Strobilanthes callosus) bloomed in the low hills of western Maharashtra, heightening the spirits of people like Ashok Shelar of Warsoi Koli village, neighboring Maharashtra’s favorite hill station, Mahabaleshwar. A proud owner of 80 bee colonies, he...

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Banarasi sari industry in trouble as traditional Credit vanishes after note ban -Omar Rashid

-The Hindu The ‘batta’ system of rolling financing has shrunk as money cannot be withdrawn from banks, and bearer cheques pile up Varanasi: For the already distressed weavers and poorly paid labourers in the famous Banarasi sari industry, demonetisation has come as a crippling blow. Withdrawal limits of Rs. 50,000 on current accounts (around a 10th of the actual requirement in the trade) and falling business post November 8 have constrained traders from...

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