-Live Mint State govt says did not receive notice from SC before order was issued; SKS shares fall 19.63% in intra-day trade Mumbai: Andhra Pradesh, once the largest market for microlenders and home to India's lone listed such institution SKS Microfinance Ltd, said on Thursday it would challenge the Supreme Court's recent interim order allowing the company to resume operations in the southern state, driving the stock down by almost 20%...
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Private banks reluctant about rural lending -Dinesh Unnikrishnan
-Live Mint Experts say private banks achieve lending obligations by buying out loans from non-banking entities Most private banks in India have not been able to meet the needs of farmers although they are expanding their rural and semi-urban branch network. This is why the Reserve Bank of India (RBI) is insisting that at least one-fourth of the branches of the new banks that will be given a licence must be located...
More »Dent in anti-poverty scheme due to NREGS: report
-The Hindu Hyderabad: An anti-poverty project to transform the lives of ultra poor families has failed to make an impact and increase the net income of the targeted families in Medak district in the State at the end of four years. The project sponsored by the World Bank and the Ford Foundation was aimed at graduating 426 households from extreme poverty to a more stable state by enabling them establish micro-enterprises through...
More »Court upholds Andhra law on microfinance-Viswanath Pilla and Dinesh Unnikrishnan
-Live Mint High court asks state to review law in light of proposed national regulations to govern the sector The Andhra Pradesh high court on Monday upheld a law that led to the near demise of the microfinance industry towards the end of 2010, but asked the state government to review the legislation in the light of proposed national regulations to govern the sector. News of the review sent the stock of the...
More »Oxfam says world's rich could end poverty
-Al Jazeera UK-based charity says the world's 100 richest people earned enough in 2012 to end global poverty four times over. The world's 100 richest people earned enough money last year to end world extreme poverty four times over, according to a new report released by international rights group and charity Oxfam. The $240 billion net income of the world's 100 richest billionaires would have ended poverty four times over, according to the...
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