Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...

'Economic growth will need massive energy. Will we allow an accident in Japan, in a 40-year-old reactor at Fukushima, arising out of extreme natural stresses, to derail our dreams to be an economically developed nation?' Every single atom in the universe carries an unimaginably powerful battery within its heart, called the nucleus. This form of energy, often called Type-1 fuel, is hundreds of thousands, if not millions, of times more powerful...

India on Saturday managed to get backing of the world’s 19 most powerful economies on the issue of sharing tax information, as the G20’s draft communiqué for the first time took note of New Delhi's concerns. The draft, however, remained silent on recovery of ill-gotten wealth stashed in tax havens. The draft communiqué, to be issued by G20 finance ministers and central bank governors later on Saturday, has resolved to address...

Floods are vital to Kaziranga; dams on the upper reaches of the Brahmaputra could disrupt the balance A few weeks ago, much of the grasslands of Kaziranga National Park were under water. The monsoon floods bring with them their own set of problems—some of the animals, for instance, have to be rehabilitated—but they are required for the very existence of the park. The annual floods of the Brahmaputra creates grasslands, floodplains, and...

What can power do to a political party’s financial health? Quite a lot, it seems. An RTI query by a Chennai-based activist shows that the income of India’s longest-ruling national party, the Indian National Congress, increased from Rs 69.55 crore in 2002-03 to a whopping Rs 467.57 crore in 2010-11. Documents accessed by activist V Gopalakrishnan show that the jump is even more evident when figures from 2003-04 are compared with...