A worried government has put on fast track the proposed bill to regulate micro-lenders, as it seeks to ensure that over-regulation by states does not kill the sector that is envisaged to play a big role in furthering financial inclusion. The finance ministry could move a bill in the winter session of Parliament that will make Nabard responsible for regulation of all non-profit microfinance institutions structured as trusts, cooperatives, or mutual...

Public uproar over 20 suicides in two months has forced the Andhra Pradesh government to act to regulate micro-finance institutions. On October 14, the state government brought an ordinance making it compulsory for MFIs to register themselves, declare the effective rate of interest they charge, ensure that no security is sought for loans and no coercion is used for recovery. Non-compliance will be punished with a three-year prison term and a...

The Punjab Government Thursday requested the Reserve Bank of India that it should impress upon Public Sector banks to aggressively promote Agricultural Debt Swap scheme to free the farmers from the clutches of moneylenders. The Punjab Deputy Chief Minister Mr. Sukhbir Singh Badal raised this issue when Dr. D. Subbarao, Governor, RBI today called on him. The Deputy Chief Minister impressed upon the Governor that the Punjab farmers reeling under Rs....

Apni kheti, apna khaad / Apna beej, apna swaad (Our own farm, our own fertiliser / Our own seeds, our own taste) -- Prakash Singh Raghuvanshi. A farmer from Tandia village in Varanasi has a solution to India's burgeoning food crisis. In a land where poverty, hunger, malnutrition and farmer suicides are rampant, Prakash Singh Raghuvanshi's innovation could work wonders. He has single-handedly developed a number of high yielding, nutritious...

As it stands, the Right to Education Act has several flaws that will prevent its efficacious implementation. Several amendments are called for. Something that cannot work, will not work. This is a tautology applicable to the Right to Education (RTE) Act, which cannot meet the objectives for which it was enacted. There are several reasons for this. First, the Act does not rule out educational institutions set up for profit (Section 2.n.(iv))....