Nobel laureate Muhammad Yunus has been removed as the managing director of Grameen Bank, the organisation he founded in Bangladesh in 1983 to help the poor. The central bank has cited a rule that requires retirement at 60 to order the ouster of the 70-year-old “banker to the poor” who has been embroiled in a Norwegian funds scandal. Yunus had also fallen out with the political establishment after, fresh from the Nobel...

Patients battling cancer, infections and mental illness joined a rally here today beseeching the government to reject a trade pact with the European Union that they fear will threaten the availability of inexpensive generic medicines in India. An estimated 2,000 people, many among them infected with HIV, walked along Delhi’s Parliament Street on a day when Indian and EU officials were negotiating a free trade agreement in Brussels. Health activists and lawyers...

Bangladeshi Nobel laureate Muhammad Yunus has launched a legal battle, one day after he was sacked from the Grameen microfinance bank he founded. Prof Yunus lodged a case in Bangladesh's High Court challenging his dismissal from the post, lawyers said. The central bank sacked him saying he was past retirement age and had been improperly installed in his post. Grameen Bank disputes the accusations. He has been under pressure from the government to...

Appointment to the post of Central Vigilance Commissioner “must satisfy not only the eligibility criteria of the candidate but also the decision making process of the recommendation. If a statutory body like the HPC [high power committee], for any reason whatsoever, fails to look into the relevant material having nexus to the object and purpose of the 2003 CVC Act or takes into account irrelevant circumstances, then its decision would...

Ban futures trading in essential commodities, says Modi report As chairman of the working group on consumer affairs, Gujarat Chief Minister Narendra Modi has recommended that futures trading in essential commodities be banned and that organised retail in agri-produce be encouraged to make a dent in food inflation. The working group, comprising the Chief Ministers of Gujarat, Tamil Nadu, Maharashtra and Andhra Pradesh, was set up in April last. Mr. Modi...