Alliance for Sustainable and Holistic Agriculture (ASHA) would reach city during its Kisan swaraj yatra on Friday to draw the attention to continuing agricultural crisis in India and call for a comprehensive new path for Indian agriculture. Baba Balbir Singh Seenchewal and Manmohan Waris would join the rally here. A public meeting would be organized in front of PAU gate number two. Out of 10 lakh farming families, 72,000 were forced to...

The issues relating to the victims of endosulfan, sprayed in the plantations of Kasargod district in Kerala, have snowballed once again. “Earthworms emerged from the soil, and, subsequently, died. Then birds came to eat the earthworms and they died as well.”   “Some termites were killed in a cotton farm sprayed with endosulfan. A frog fed on the dead termites, and was immobilised a few minutes later. An owl which flew over...

The government proposes to introduce a bill to regulate microfinance institutions (MFIs), accused of aggressive loan recovery practices, minister of state for finance Namo Narain Meena said on Tuesday. The move follows tight scrutiny of the fast-growing, largely unregulated, small loans sector after fears of large-scale defaults due to high interest rates and reports of suicides due to mounting debt. “The Department of Financial Services proposes to introduce the Micro Finance (Development...

The SKS IPO and the Andhra Pradesh ordinance have suddenly changed everything. Will it be the death knell or will it usher in a reformed and healthy industry? There are three basic facts about micro-finance in India. First, most of what is described as micro-finance industry is actually micro-loans. There is hardly any provision of micro-savings, micro-investments, micro-insurance or micro-pensions. This is mostly because of regulatory reasons, i.e. accepting money...

India’s rapidly growing private microcredit industry faces imminent collapse as almost all borrowers in one of India’s largest states have stopped repaying their loans, egged on by politicians who accuse the industry of earning outsize profits on the backs of the poor. The crisis has been building for weeks, but has now reached a critical stage. Indian banks, which put up about 80 percent of the money that the companies...