India is setting up a Rs.5,000 crore credit guarantee fund to facilitate easy education Loans to needy students by providing protection against defaults to banks. The move was endorsed at a meeting of the Central Advisory Board on Education (CABE), the highest education advisory body to the government that comprises academicians, industry experts and state education ministers, human resource development (HRD) minister Kapil Sibal told reporters Wednesday. “CABE members endorsed the initiative to...

Araria, Bihar: If the government had bought bicycles to give them to schoolgirls, you would have had a bicycle scam in Bihar, Chief Minister Nitish Kumar famously said, explaining why he gave bicycle vouchers to families. But when it came to giving land to landless Mahadalit families — the poorest and most marginalised of Dalits — the government forgot this wisdom.   Result: Allegedly acting in concert, government officials and brokers ganged...

-The Times of India Anticipating what farmers support could mean to Samajwadi Party in the 2014 Lok Sabha elections, the Akhilesh government doled out sops worth Rs 5,432.37 crore for agriculture and allied activities to benefit the group. Chief minister Akhilesh Yadav also reiterated his government's commitment to scrap the old land acquisition policy and come up with a farmer friendly version soon. Stating that Loans were a stress that haunted a...

-IANS West Bengal Chief Minister Mamata Banerjee Friday conceded that there were 'debt-ridden peasants who contemplated committing suicides'. 'There are many farmers who take Loans from money lenders at high interest and when they are unable to repay the money, they contemplate suicide. Do not give up life like that, life is most valuable,' said Banerjee, after giving Kisan Credit Cards to farmers here in the South 24-Parganas district, about 150 km...

-Reuters SUPALI: Two years ago, Vilas Yelmar took out a 200,000 rupee ($3,610) bank loan to develop a small grape orchard in a dusty hamlet southeast of Mumbai. The bank has repeatedly asked for the loan to be repaid, but Yelmar, whose annual income has risen to 2 million rupees, has spent the money on a new sport utility vehicle and a lavish family wedding. He is one of an increasing number...