The microcredit revolution has been celebrated for helping poor women in developing countries start small businesses. By borrowing money for purchases such as a buffalo or sewing machine, the women were able to help lift their families out of poverty. But critics say the microcredit model has been perverted by commercial greed in India, with reports of abusive collection methods and sky-high interest rates. "What began as a simple, innovative model...

“Inside the mine everything is very fragile. Even the falling of a small rock can cause death sometimes. People from outside cannot imagine what the hell is inside the mine!” These are the words of 16-year old Muzzammal Haque who works in a coal mine in the Jaintia Hills, Meghalaya. He is yet another example of the bonded child labour in the various coal mines in the Jaintia Hills on...

Economists’ report says tractors are used for just 178 hrs a year and electric motors are overused That Punjab faces an acute labour shortage each paddy season is a known and established fact. But not many know that 48.66 per cent of the total ‘family labour’ — members of a farmer’s family — available for agriculture remains underutilised in the state. A study of the resources employed in Punjab agriculture throws up...

Along with the proposed food security legislation and the communal violence Bill that have been its focus until now, the reconstituted National Advisory Council (NAC) is beginning to focus again on the government’s marquee rural job guarantee scheme as well. The ministry of rural development has been told to make a presentation on the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) to a working group of the NAC on Friday,...

SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani  has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...