SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...
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UN highlights importance of ICT sector in creating opportunities for the poor
Services and goods associated with information and communications technologies (ICTs) are creating opportunities for the poor, but those sources of income are unevenly distributed and not always sustainable, the United Nations Conference on Trade and Development (UNCTAD) said today in a new report. In Kenya, for example, there are now more than 18,000 agents for the M-PESA Mobile telephone-based money transfer service, and Bangladesh has some 350,000 “village phone ladies,” UNCTAD...
More »“Judicious combination of manures, fertilizers ensures food security” by MJ Prabu
Growing organic foods is a matter of individual or enterprise preference “Though organic farming today seems a desirable proposition in increasing food production it is not entirely feasible because enough organic manures are not available in our country to meet the requirements,” says Dr. K. Kumaraswamy, former Professor of Soil Science, Tamil Nadu Agricultural University, Coimbatore. “Growing organic foods are a matter of individual or enterprise preference. If one wants to do...
More »e-muster rolls in job scheme to avoid graft
To avoid graft in the implementation of the Nat-ional Rural Employment Guarantee Scheme (NREGS), e-muster olls will be launched for job seekers in the state from November 1. The implementation of NREGS has been facing a lot of criticism of graft ever since it was introduced a few years ago. In order to arrest such graft, the NREGS implementing agency, the district water management agency, is creating a database of...
More »RBI for timely payment of rural job scheme workers by KA Gupta
The Reserve Bank of India (RBI) is to consider a proposal for opening of weekly branches in unbanked panchayats in the state. Gumla is one among the 16 districts, which have been classified as under-banked districts in the state. Delay in disbursing wages under MGNREGA and executing other welfare schemes will now be sorted out by reaching banking services to hitherto unbanked areas and new measures have also been initiated. Before the...
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