SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...
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UPA-II to unveil 'slum-free India' dream scheme by Mahendra Kumar Singh
UPA-II's ambitious programme to make the nation slum-free within five years is all set to take off as the housing and urban poverty alleviation ministry has finalised the scheme, and how now sent it to finance ministry for approval. Last year, the government had announced the launch of Rajiv Awas Yojana (RAY) aimed at making cities slum-free, addressing the problems of slum-dwellers and urban poor in a definitive and holistic manner....
More »'Sensex is soaring, so is hunger in the country'
Touching upon the gaping difference between the haves and have-nots, AB Bardhan, vice president, AITUC and CPI general secretary, on Tuesday said that a soaring Sensex was seen along with the soaring rate of hunger in the country today. Speaking at the centenary celebrations of Prabhat Kar, organised by the All India Bank Employees Association (AIBEA), and the All India Bank Officers Association (AIBOA) here, he described Prabhat Kar as a...
More »Forever Stuck in a Cycle of Debt and Death by Uddalak Mukherjee
According to the National Crime Records Bureau, since 2003, one Indian farmer has committed suicide every 30 minutes. In 2008, 16,196 farmers took their own lives, bringing the total number of farmer suicides in India between 1997 and 2008 to 199,132. (Significantly, P. Sainath is of the opinion that like all government data, these figures too are unreliable. For when women farmhands kill themselves, their deaths are not enlisted as...
More »Gandhiji's dream of 'Ramrajya' a long way from being realized
We have just celebrated yet another birth anniversary of the Father of the Nation Mahatma Gandhi. Mahatma had a Vision for free India, which was to give the nation a people-friendly governance—'Ramrajya'. Unfortunately, 63 years after Independence, this dream of Mahatma Gandhi, remains just a dream and will probably continue so in future too. 'Ramrajya' cannot be a reality because our country's leaders have too many vices and too few...
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