Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...

The anti-corruption movement has enabled the Indian middle class to feel smug about itself. Its members have gone through a vast range of emotions during the last two decades, from self-hatred to self-righteousness. Liberalisation of the economy has created for this class an excitement of many kinds. It has meant the freedom to pursue the quest for wealth without guilt and, at the same time, it has meant feeling set...

On August 26, Japanese Prime Minister Naoto Kan resigned, taking responsibility for the disastrous meltdown of the Fukushima Daiichi nuclear power plant, which was caused by the March 2011 undersea earthquake and ensuing tsunami.  In India, on the other hand, the deliberate contamination of a drinking water tank with radioactive waste in the Kaiga nuclear power plant in Western Ghats in the state of Karnataka has gone unpunished for two whole...

The relentless campaign to discredit the Comptroller and Auditor General of India (CAG) and diminish the institution is continuing. One is not surprised; this has happened before, for instance in the Bofors case. However, one is dismayed because the campaign, unwittingly aided by some elements in the media, seems to be succeeding to some extent. It seems urgently necessary to dispel certain doubts and misperceptions before they gain ground and...

-IANS   An eerie silence welcomes me as I walk down the row of houses, not a soul in sight. I know that from every tiny window in these little brick-walled units, watchful, suspicious eyes follow my every move. They are assessing me, wondering if I am friend or foe. But then, in these thickly forested parts, the lines of distinction blurred many years ago. And their life could depend on the accuracy...