Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...
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Musings on the media in the dock by Sashi Kumar
The fourth pillar of democracy would cease to be free if it is made accountable to one or more of the other pillars. Much of the media, says Justice Markandey Katju, the new Chairman of the Press Council of India, is of very poor intellectual level. That, even for a former judge, would be being judgmental — except that sections of the media concerned seem hell-bent on proving him right. Setting...
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-The Indian Express The finance ministry has come to an agreement with the department of industrial policy and promotion about what the government’s policy towards foreign direct investment in retail should look like. This means the retail FDI proposal will be placed before the cabinet soon, and hopefully will be cleared as soon as possible. Currently, only 51 per cent foreign investment is permitted, and only in stores selling a single...
More »Trooper teacher in Saranda class by Kumud Jenamani
Blackboard 2002: A for attack; B for bomb; C for cops… Blackboard 2012: A for apple; B for ball; C for cat… Jamshedpur, Nov. 20: More than 500 students in some 15 primary and middle schools in forest villages of a reclaimed Saranda in West Singhbhum are looking forward to a paradigm shift in their ABCs of academic life, courtesy the CRPF. The central paramilitary force has taken up the daunting task of...
More »Justice Katju: Media needs to be accountable to people by Anand Sagar
The newly appointed Chairman of the Press Council of India (PCI) and an eminent former judge of the Supreme Court Justice Markandey Katju now faces a somewhat Hamletian dilemma — how best to suit his actions to his words. And, in the process, how best to also diffuse the heated debate and controversy that has followed some of his recent remarks on the state and the functioning of Indian media. Interestingly,...
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