Even as the media celebrate the Mercedes Benz deal in the Marathwada region as a sign of “rural resurgence,” the latest data show that 17,368 farmers killed themselves in the year of the “resurgence.” When businessmen from Aurangabad in the backward Marathwada region bought 150 Mercedes Benz luxury cars worth Rs. 65 crore at one go in October, it grabbed media attention. The top public sector bank, State Bank of India,...

Demanding waiver of farm Loans of rain-hit farmers in Orissa and relaxation of paddy standard for procurement, the Congress on Sunday asked the Centre to form a monitoring committee to supervise utilisation of its assistance for the distressed farmers. The Centre should form a committee to monitor and supervise utilisation of its assistance for the farmers whose crops have been damaged due to untimely rains in Odisha, Odisha Pradesh Congress Committee...

Fearing a default from Andhra Pradesh-based microfinance institutions (MFIs), whose cash flows have been disrupted by new laws, lenders have asked RBI to ensure stability by bringing the sector under its purview. In a meeting called by the Reserve Bank to discuss funding of MFIs, it asked banks whether the institutions were repaying Loans on time and if the end-borrower was suffering because of the credit crunch faced by them. RBI...

Prime Minister Manmohan Singh has assured a delegation of TDP-Left parties combine that he would look into the issue of alleged suicide by farmers in Andhra Pradesh who were severely affected in the unprecedented rains and cyclonic storm in the last few months in the State. The delegation highlighted the plight of farmers who were hit as their produce like paddy, cotton, tobacco, red gram, chillies and oil seeds were damaged/discoloured...

“To make democracy function effectively, we must have inclusive growth. Microfinance has given a choice to those who were earlier excluded from the traditional institutional mode of finance. Since more than 80 per cent of Indian farmers do not get Loans from such institutions, emergence of micro-finance has been beneficial to the rural poor.” Dr Amiya Sharma, executive director of the Rastriya Gramin Vikash Nidhi (RGVN) opined this at the fourth...