-The Economic Times   The IMF wants to increase its lending capacity by $1 trillion, to rescue distressed countries in the eurozone plus those hit by aftershocks from the eurozone.  But US is struggling with fiscal problems of its own, Japan now has the highest debt/GDP ratio in the world (over 200%), and Europe is moving into an austerity phase. Clearly, a significant chunk of the new trillion will have to come from...

The National Bank for Agriculture & Rural Development, or Nabard, has started lending directly to infrastructure projects out of its own resources for the first time in 30 years, in an attempt to diversify its activities and make itself relevant at a time when the dynamics of the rural market are changing.  Essentially a refinance bank till recently, Nabard has created a Rs 1,000-crore special window for lending to build core...

West Bengal Governor MK Naryanan has refuted Chief Minister Mamata Banerjee's claim that no farmers have committed suicides. He said the matter needs to be addressed urgently. "There is no denying the fact that farmers have committed suicide and that they are in debt. We need to do something about it," Narayanan said.   He was outspoken on the issue of crib deaths too, calling them a matter of great concern. "Baby deaths...

Two of the three Bengal agencies tasked with procuring paddy directly from farmers have failed to do so till now because of lack of funds, a revelation that blunts the state government’s attempt to blame the Centre. Paddy procurement is one of the purported issues over which the Congress and the Trinamul Congress have been calling each other names. The state government had pointed fingers at the Centre-run Food Corporation of...

Neglected by conventional banks, low-income women in Satara have set one up themselves. Not long after Chetna Gala Sinha came to the drought-stricken region of Mhaswad in western Maharashtra to marry a farmer and prominent local social activist, she began putting her university degree in finance into action. Local women, she observed, were wearing themselves out in subsistence livelihood such as growing grapes or selling vegetables. In 1992, Chetna, who grew up...