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 Telegraph Assam has managed to secure an exclusive meeting with the Planning Commission wherein it would make a strong case for a state-specific development strategy. Chief minister Tarun Gogoi revealed this here today during an interaction with reporters. He said Prime Minister Manmohan Singh had assured him of arranging a full-fledged meeting with the plan panel during his meeting with the former in Delhi early this week. According to a senior official of...

-The Telegraph   The Supreme Court today diluted its July order asking the Centre and states to stop using special police officers in their war against Naxalites or other internal terror, clarifying it would now be confined only to Chhattisgarh. The Centre had urged the top court to clarify or modify its July 5, 2011, order saying it would “hamper” internal security measures in states and lead to “chaos”. Besides Chhattisgarh, there are SPOs...

-The Telegraph   An international sympathiser group for Indian Maoists has declared it will protest outside offices of Indian multinationals worldwide, adding to problems the government already faces in combating the home-grown rebels. Last week, the International Committee to Support the People’s War in India announced the plan to launch its “international week of action from January 14 to 22” next year to support the CPI (Maoist)’s “people’s war” against the Indian state. The...

The new Chairman of the Press Council of India, Markandey Katju, wants to make it an instrument of mediation in addition to adjudication.   THE appointment of Justice Markandey Katju, a former judge of the Supreme Court, as Chairman of the Press Council of India is about the best thing that has happened to that body in a long while. It is no exaggeration to say that the PCI commands little prestige...