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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Buffett seeks higher FDI in Indian insurance sector
Wants limit to be raised to 49% Keen to enter the growing insurance sector, U.S. billionaire Warren Buffett on Friday wondered if India would raise the FDI limit in the sector to 49 per cent. The U.S.-based company is keenly watching the developments regarding further opening of the sector to foreign investment. Mr. Buffett, whose group Berkshire Hathaway recently entered the Indian insurance market, called on IRDA Chairman J. Harinarayan here and...
More »‘Yes, storage, sub-standard grain are problems'
The government on Thursday admitted to problems in storage as well as supply of sub-standard foodgrains to the poor after senior Communist Party of India (Marxist) leader Brinda Karat expressed serious concern in the Rajya Sabha over grain rotting. “I do admit,” Finance Minister Pranab Mukherjee said after Ms. Karat charged the government with supplying rotten foodgrains to remote tribal areas. She showed samples of spoiled wheat and rice in the...
More »Oppressor's case by TK Rajalakshmi
Women's organisations rise up against a petition that seeks an amendment to Section 498A of the Indian Penal Code. A PETITION that alleges the misuse of Section 498A of the Indian Penal Code, which has been admitted by the Rajya Sabha Committee on Petitions, has become an object of concern among leading women's organisations in the country. The petition claims that the law, dealing with dowry-related torture and acute domestic...
More »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...
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