-AP The microfinance industry pursued a path of rapid business growth in recent years; two investigations now link it to debtor suicides   First they were stripped of their utensils, furniture, mobile phones, television sets, ration cards and heirloom gold jewellery. Then, some of them drank pesticide. One woman threw herself into a pond. Another jumped into a well with her children. Sometimes, the debt collectors watched nearby. More than 200 poor, debt-ridden residents of...

India moved a step closer to implementing cash transfers of direct subsidies and social welfare payments after a high-level panel presented the blueprint for effecting it through an Aadhaar-based payment gateway. Accepting the report, which details how all payments and cash transfers can be made electronically, finance minister Pranab Mukherjee indicated that it will be the key to plug leakages and ensure more targeted spending under the government’s social welfare programmes. The...

Five suspected bank robbers die at the hands of police Five men suspected to be involved in two recent bank robberies in the city were gunned down by the police at a Velachery apartment in the small hours of Thursday. But rather than bringing the curtains down on the daring heists that shook the city, the “encounter” itself looks set to move centre-stage, with the police claim of firing in self-defence...

-The Business Standard   Its guarantee of non-duplication can have far-reaching cost benefits but it has deep design flaws that can be compromised. PRAVEEN CHAKRAVARTY Former Volunteer, Financial Inclusion, UIDAI* “Aadhaar is an unadulterated identity programme that answers the question: Is the individual who he or she claims to be?”   The word “unique”, and not “identity”, is central to the unique identity programme or Aadhaar. It may be true that the vast majority of people possess some...

A government panel has floated the idea of making voting compulsory in civic and panchayat elections, with a fine of Rs 25 for anyone who chooses not to vote despite the absence of disabling circumstances. The panchayati raj ministry task force has argued that higher polling is likely to reduce the influence of money power on election results. A low turnout suggests that only committed voters and those who have accepted money...