The government has begun discussions with Dalit entrepreneurs on what can be done to promote business ventures set up by members of their community. As a part of its discussions with various groups before it finalizes the 12th Plan for 2012-17, the Planning Commission has sought suggestions from the Dalit Indian Chamber of Commerce and Industry (Dicci), a business group, on what can be done to spur Dalit capitalism, how these...
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Microlenders, Honored With Nobel, Are Struggling by Vikas Bajaj
Microcredit is losing its halo in many developing countries. Microcredit was once extolled by world leaders like Bill Clinton and Tony Blair as a powerful tool that could help eliminate poverty, through loans as small as $50 to cowherds, basket weavers and other poor people for starting or expanding businesses. But now microloans have prompted political hostility in Bangladesh, India, Nicaragua and other developing countries. In December, the prime minister of...
More »NABARD to stream micro credit through grass root groups
The National Bank for Agriculture and Rurual Development (NABARD) will pay greater focus on financing through 'Joint Liability Groups' (JLs) in Kerala as it is found more effective way of priority sector lending. JLs are informal groups of even 4-10 individuals joining together for the purpose of availing bank loans through group mechanisms against mutual guarantee. According to NABARD's State Credit Plan 2011-12, financial inclusion through JLGs would be deepened in partnerships...
More »SHG-bank linkage in Tamil Nadu second after AP by TE Narasimhan
Tamil Nadu has become the second largest state after Andhra Pradesh in the self-help group (SHG)-bank linkage programme launched by the National Bank for Agriculture and Rural Development (Nabard). In the state, 209,197 SHGs were credit linked with a financial assistance of Rs 2,791.65 crore in 2009-10, taking the cumulative number of SHGs credit linked to 852,791 (including repeat doses) with a bank loan of Rs 9,394.70 crore. Nabard said that a...
More »Farmers' suicides reflective of death of rural banking by G Arun Kumar
Since the beginning of December last, 220 tenant farmers in the state have committed suicide or died of shock, crushed by mounting debts and loss of crops. Overall, the farmer death toll stands at a staggering 350-400. Though the fickle weather wreaked havoc, experts believe it's only partly to blame as several other factors have worked against the farming community. While economic expansion continues to bypass the farming community leaving...
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