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...

The government has set the ball rolling for estimating black money by signing agreements with three leading think-tanks NCAER, NIFM and NIPFP to conduct study on unaccounted income generated inside and outside the country. They have been given 18 months to complete the study and also suggest administrative and legal measures to prevent generation of black money, according to sources. The first study on unaccounted money was conducted by NIPFP way back...

Important amendment in Right to Free and Compulsory Education Amendment Bill could not be taken up in Rajya Sabha on Friday. The Bill sought to treat children with disabilities as disadvantaged group under the Right to Education (RTE) Act. While the Left was keen on the Bill's passage, BJP said there was not enough time to discuss it. The party wanted a four-hour discussion on the Bill, whereas Left said it...

Aruna Roy, a Magsaysay award winner former bureaucrat, was closely involved in the drafting of the Right to Information (RTI) Act. As a member of the UPA's National Advisory Council (NAC), among other things, she has been conveying to the government the views of civil society on the proposed changes in the transparency act. On the sidelines of 3rd national convention of National Campaign for People’s Right to Information, held...

The union finance ministry’s decision to partially subside capital investment in healthcare and education by extending the “viability gap funding” facility to these sectors is welcome as they are vital areas of social infrastructure, which are no less Important than roads and bridges. But every sector has its own complexity and the nuancing that the health ministry has sought for such subsidy to healthcare infrastructure needs serious attention. The ministry’s...