-The Business Standard The Microfinance Bill in its present form may hurt the growth of the Self-Help Group (SHG) programme being run across states to bring people above the poverty line, according to Union rural development minister Jairam Ramesh. “The Bill needs to be rewritten. MFIs are not instruments for poverty alleviation,” Ramesh said in an interaction with reporters after he reviewed initiatives by NABARD in an SHG-bank link programme. He, however, did...
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National Rural Mission to link one woman from every poor family to SHGs
-The Hindu “Need for regulatory space for MFIs so they function without affecting SHGs” The National Rural Livelihood Mission (NRLM) would connect at least one woman from every poor household across the country with self-help groups (SHGs) in five years, Union Minister of Rural Development Jairam Ramesh said on Friday. “The objective of the programme is to ensure that in a five-year period one woman from every poor household becomes a member of...
More »Financial Inclusion: The overzealous state is smothering the agenda-MS Sriram
It would be great if the enthusiasm on the financial inclusion agenda gets a pause from the frantic do-gooders . Too many people appear to be enthusiastic about serving the poor - and the kindness is killing. Back in 1956, we discovered that cooperatives were a great instrument to reach out to the poor. These were peoples' institutions, local and would be responsive to the problems of their members. A set of...
More »Nabard records 40% growth in farm credit in FY12
-The Business Standard The National Bank for Agriculture and Rural Development (Nabard) has recorded a 40 per cent growth in agriculture credit and rural development in Karnataka during 2011-12. It has extended farm credit of Rs 6,053 crore during the year. While the production credit refinance extended to cooperative banks and regional rural banks (RRBs) was Rs 3,775 crore, its finance to state government under the Rural Infrastructure Development Fund (RIDF)...
More »More Benefit than Cost-Alaka M Basu
For women, the NREGA would bring important social gains Not being an expert on the subject and too lazy to read all the fine print, I do not know the exact allocations under the Mahatma Gandhi National Rural Employment Guarantee Act this year. But I gather the money has been cut down, largely because the sums allocated last year were not fully used by most states. Maybe there were other considerations...
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