Sample some data on the microfinance performance in India: According to the data provided by www.mixmarket.org, microfinance in India reached close to 270 lakh active borrowers in 2009, with the average loan size close to Rs 8,000. This translates into total borrowing to over Rs 20,000 crore. Though this number seems large, it represents only 0.3% of our GDP. Thus, large swathes of poor, both in our villages and urban...

He came, he spoke, and he got 54,000 jobs. This was on Day One of his India visit. By the time he flies out of New Delhi on November 9, US President Barack Obama would have charmed his way through to force open Indian agriculture to American corporations . And therein hangs the fate of millions of small and marginal farmers. Top on the agenda is the push to make Prime...

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...

The accusation of ‘coercive' practices to recover the loans has been laid at the doors of some leading players Micro Finance institutions (MFIs) that are for profits are in the news for the wrong reasons. The ‘for profit' MFIs have grown spectacularly in recent times. But along with the large profits have come allegations of sharp practices. In Andhra Pradesh, where such MFIs have a sizable presence, the climate has now drastically...

India has slipped to 87th spot in Transparency International’s latest ranking of nations based on levels of corruption, with the global watchdog asserting that perceptions about corruption in the country increased in the wake of the Commonwealth Games Against the backdrop of alleged irregularities in the recently held Commonwealth Games (CWG), India’s perceived corruption levels have gone up, with a corresponding worsening of its world ranking. According to Transparency International’s Corruption...