Norway says it is examining reports that Nobel Peace Laureate Muhammad Yunus allegedly diverted millions of dollars of aid money from a bank. International Development Minister Erik Solheim said that it was "totally unacceptable that aid is used for other purposes than intended". A documentary maker has alleged that cash was diverted from Professor Yunus' Grameen Bank to other parts of Grameen. In a statement, the bank said that the allegations were false. It...

For past several weeks, thousands of farmers in Madhya Pradesh, Uttar Pradesh, Chhatisgarh, Rajasthan, Bihar and Jharkhand have been left in the lurch. They had planted urd and til crops in a large acreage, and to their dismay no grain formation took place in the standing crop. Unable to bear the economic loss, at least four farmers have reportedly committed suicide. Thousands of farmers have been pushed deeper into economic distress....

The two day 43rd Session of the Indian Labour Conference (ILC), the apex national tripartite body that discusses key issues affecting labour and employment and provides policy perspectives and recommendations, concluded in New Delhi today. The Conference was inaugurated by Prime Minister Dr. Manmohan Singh on Tuesday 23rd November 2010. Senior level representatives of the three pillars of the tripartism, Trade Unions, Employers’ Associations and Government, participated in the deliberations...

MICROFINANCE is an example of something that is sadly all too rare: an anti-poverty tool that usually at least breaks even. If you make small, uncollateralised business loans to groups of poor women, they almost always repay them on time. It has grown rapidly in many countries, not least Bangladesh and India. With nearly 30m clients each, these are now the world’s biggest markets for microfinance. Yet the industry has...

Faced with a liquidity crunch, microfinance companies have asked RBI to direct banks to set up an emergency fund of Rs 1,000 crore to help them tide over slowdown in their business. Sources said the Microfinance Institution Network (MFIN) is trying to convince the central bank in this regard. The micro finance sector has been reeling under a liquidity crisis after the Andhra Pradesh government issued an ordinance to control interest...