The Government is finalising the blueprint for a scheme to enable a vast majority of the urban poor to own a house.   The housing and urban poverty alleviation (HUPA) ministry has proposed to stand in as guarantor for home loans up to Rs 5 lakh. Under the scheme, banks would be reimbursed up to 90 per cent in case the poor default on these loans. The scheme, targeting those earning less than...

The Smart Card Project is helping nearly 12.7 million poor people in Andhra Pradesh to get timely payment of wages It was conceived as a vehicle to promote financial inclusion by taking banking services to the unbanked poor, harnessing information and communications technology to ensure the benefits of public welfare programmes reach those they are intended for by plugging leakages. The Andhra Pradesh Smart Card Project, launched in 2007, is...

Vilas Bhagwan Pote grins as he recalls his election as sarpanch of Ralegan Siddhi, Anna Hazare’s village in Ahmednagar district, 11 years ago. “I was the traitor, the bad guy,” he jokes. “I openly defied Anna because I felt he was wrong.” Pote, a Dalit charmakar (cobbler) then in his 30s, had been unhappy as the 2000 panchayat polls drew close. As always, Anna had nominated a new executive body for the...

The death recently in Nairobi of Kenyan environmental crusader and 2004 Nobel Peace Prize winner Wangari Maathai brings to mind the work of another development activist and Nobel peace laureate (2006), Muhammad Yunus of Bangladesh. Their fields were different but their goals were the same: empowering poor, ordinary women for social and economic growth. Perhaps it’s no coincidence that this year’s Nobel Peace Prize has gone to three women who are...

-Live Mint   The poor remain poor because they lack resources. And the formal finance sector does not want to lend them because they are too poor, costs are high and they hardly have anything to offer as collateral. That is, they are trapped in the vicious circle of poverty. This was so until the arrival of microfinance—successfully demonstrated by the Bangladesh model that the poor are “good” borrowers. It was held...