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...
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Medha Patkar demands demolition of Adarsh building by Vinaya Deshpande
‘Break the nexus between builders and politicians' 'Land being grabbed from poor through malpractices' Social activist Medha Patkar and over 50 others were detained for some time by the police here on Tuesday after they barged into the Adarsh housing society and staged a protest, demanding the demolition of the building and the scrapping of Rule 3K under the Maharashtra slum Act. “Adarsh is the symbol of their paradigm of development. They don't...
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 »NAC to counter Rangarajan panel's criticism of its recommendations by Smita Gupta
Key issue will be legal guarantees for food entitlements for “general” category In what looks like more trouble for the United Progressive Alliance (UPA) government, the Sonia Gandhi-led National Advisory Council (NAC) has decided to take head on the Rangarajan committee's criticism of its now-controversial recommendations on food security. It will take the first step by presenting a point-by-point rebuttal of the panel's critique to the new Food Minister, K.V. Thomas, on...
More »India's silent epidemic by Ananthapriya Subramanian
Thousands of children and women die every year in India due to lack of access to basic healthcare. Why is it that, in the Mecca of medical tourism, the poor continue to be denied the right to health? A national television channel had a 30-minute special recently on how private hospitals are denying free medical treatment to poor patients. Under a quota, private hospitals are expected to provide medical treatment...
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