The earlier draft covered only non-NBFC MFIs incorporated as trusts and non-governmental organizations that constitute a very small part of the total industry The proposed microfinance Bill for governing India’s Rs. 22,000 crore microlending industry is set to give more teeth to the Reserve Bank of India (RBI) to regulate larger microfinance institutions (MFIs). This will be done by removing such entities from the purview of laws enacted by state governments...
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Second green revolution is the need of the hour by Kunal Bose
The government will certainly not indulge in self congratulation for agriculture recording a growth of 5.4 per cent to 232.07 million tonnes in 2010-11 as this is happening on a low production base of 218.11 million tonnes last year when the country experienced the worst south-west monsoon since 1972. In fact, the major concern of the government is farm sector’s niggardly growth of 2.8 per cent in the first four...
More »Co-op banks must reach out to more farmers: MP
Stating that about 70% of the farming community in the country is still out of the reach of banks, MP Pralhad Joshi said co-operative banks should try to bring more farmers under the banking network, thereby giving a boost to the agricultural sector. Speaking at the 75th anniversary celebrations of Hubli Primary Co-Operative Agriculture and Rural Development Bank here on Sunday, he said whatever financial facility the government is extending towards...
More »Subal not NREGS victim: state
On a day the Bokaro district administration went on an overdrive to tighten the noose around unscrupulous MGNREGS contractors, the state government claimed in the Assembly that the death of worker Subal Mahto wasn’t remotely connected to rampant corruption in the Centre’s flagship rural job scheme. Reprimanded by Union rural development secretary B.K. Sinha over the recent killings of the Bokaro labourer and MGNREGS crusader Niyamat Ansari, the government today made...
More »Why was Niyamat Ansari Killed? : The Politics of NREGA and the Maoists by Avanish Kumar
The gruesome murder of NREGA activist Niyamat Ansari has shocked the progressive civil society and political groups in the country. According to reports (one, two), Niyamat Ansari had exposed a case of corruption in NREGA and an FIR was lodged against a former BDO and another Panchayat Sevak of Manika block, Latehar (Jharkhand). On 2nd March 2011, Niyamat Ansari was picked from his house and beaten to death. The reports...
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