India is likely to harvest a record 16.5 million tonne pulses this year. This was announced by the Agriculture Minister, Shri Sharad Pawar, at the 6th Agriwatch Global Pulses Summit here today. The Minister said that though India presently imports a large quantity of pulses, the use of new production technologies and agronomic practices, and government support will lead to self sufficiency. Shri Pawar said that more aggressive promotion of available technologies...

Bangladeshi micro-credit pioneer Grameen Bank has described as "total fabrication" claims the institution diverted nearly $100m of aid cash.The denial came a day after Norway said it was examining reports relating to money from Norway, Sweden and Germany.A documentary alleged that the cash had been transferred from Grameen Bank to other parts of Grameen.Nobel Peace laureate Prof Muhammad Yunus set up the bank in Bangladesh in 1996 to make small...

Two months after the crisis in the microfinance industry broke out, resulting in the possibility of bank loans to the sector becoming non-performing, the government now wants to do a reality check. Last evening, the finance ministry dashed off a letter to public sector banks, Small Industries Development Bank of India and National Bank for Agriculture and Rural Development, asking them to furnish data on how much exposure they have to...

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...

India's economy grew faster than expected in the second quarter of its financial year, figures show. In the three months to September, gross domestic product (GDP) was up 8.9% from the same period last year. However, inflation remains a real concern for authorities with new figures showing prices rising by 9.7% in October. Although only the world's 11th biggest economy, India is the second fastest-growing major economy, behind China. Strong farm production, increased vehicle...