Among the several resolutions passed on Thursday by the 9th conference of the All India Democratic Women's Association (AIDWA) in Kanpur, one of the most important ones was on the need to regulate microfinance institutions (MFIs), which are exercising an iron grip on poor women Debtors in several States of the country. The resolution drew attention to the “spate of suicides as a result of the harassment and strong-arm tactics employed...

The cotton growers of Vidarbha, who are suffering immensely due to the prevailing agrarian crisis, staged candlelight protests ahead of US President Barack Obama's India visit on Friday. The protests, held under the banner of the Vidarbha Jan Andolan Samiti — a pressure group which has been documenting distressed farmers' suicides — sought to draw his attention to the plight of the region's agriculture sector caused by 'American policies'. The main event...

For generations, a majority of Vidarbha’s Debt-ridden farmers have only grown cotton, making themselves vulnerable to unreliable market conditions. Now, these and other districts facing an agrarian crisis, as well as the rest of the state’s agriculture community may have some reason to smile. Rs 643 crore will be pumped into the state for the farmers, with the government going ahead with its ambitious Maharashtra Competitive Agriculture Project (MACP). On Tuesday, the...

Microfinance is an effective tool for financial inclusion. Here are some elements of the recently embattled sector The recent controversy surrounding the microfinance sector has entirely eclipsed the fact that it is the first effort in India to have delivered financial services to remote corners of the country in a self-sustaining manner. The stakes are high for India’s poor, and we have to pave the way for orderly growth in the...

India's banking industry has thrown its support behind microfinance lenders after weeks of upheaval and confusion. Major banks like the State Bank of India, Standard Chartered and Citi have all agreed to continue lending to microfinance firms. The multi-billion dollar industry was on the brink of a mass default. The banks' support has hung in the balance since lenders became embroiled in controversy in the southern state of Andhra Pradesh. About four weeks ago,...