India’s microfinance institutions (MFIs), under pressure because of stricter rules in their largest market Andhra Pradesh and the consequent slump in repayments there, may get a boost from the Asian Development Bank (ADB). ADB is constituting a $250 million (around Rs1,135 crore) facility to offer guarantees against loans to MFIs extended by banks in the Asia-Pacific region where it operates, including India. The move is aimed at encouraging banks to lend...
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Plan panel mulls ways to spur Dalit capitalism by Pallavi Singh
The government has begun discussions with Dalit entrepreneurs on what can be done to promote business ventures set up by members of their community. As a part of its discussions with various groups before it finalizes the 12th Plan for 2012-17, the Planning Commission has sought suggestions from the Dalit Indian Chamber of Commerce and Industry (Dicci), a business group, on what can be done to spur Dalit capitalism, how these...
More »Startling growth in “businessmen MPs” by Vidya Subrahmaniam
A potential for conflict of interest, says study by National Social Watch As many as 128 members of the Lok Sabha, forming nearly a fourth of the strength of the lower House, fall in the categories of “industrialist/trader/businessperson/ builder.” In the Rajya Sabha, MPs from these groups (25 out of 245) account for a more modest 10 per cent. However, in a potential conflict of interest, many of the MPs are...
More »Interest-free banking urged
Indian Centre for Islamic Finance delegation makes presentation at Yojana Bhavan The Indian Centre for Islamic Finance (ICIF) has made out a strong case before Prime Minister's Economic Advisory Council member V. S. Vyas for introducing interest-free banking in the country at the earliest to ensure “inclusive growth with innovation” in accordance with the recommendations of the Planning Commission's Raghuram Rajan Committee. An ICIF delegation from New Delhi, led by its general...
More »UP’s megalopolis or state-sponsored land grab?
In a jaw-dropping move, the Uttar Pradesh government has converted 2,367 sq km of the countryside along the Yamuna Expressway, connecting Greater Noida with Agra , into urban land. In a country where policy to create new towns has not ventured beyond the 50 sq km allowed as the maximum area of a Special Economic Zone, this is welcome. But not so, the manner in which the changed land-use is going...
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