Two months after the crisis in the microfinance industry broke out, resulting in the possibility of bank loans to the sector becoming non-performing, the government now wants to do a reality check. Last evening, the finance ministry dashed off a letter to public sector banks, Small Industries Development Bank of India and National Bank for Agriculture and Rural Development, asking them to furnish data on how much exposure they have to...

Agriculture minister Sharad Pawar today said the government should take note of Ratan Tata’s statement that India risked turning into a “banana republic” and cautioned against the excessive use of the CBI. Pawar’s statement came in the middle of a CBI crackdown on an alleged bribes-for-loans scandal involving several top financial officials and real estate players in Maharashtra. Another real estate project, which was once associated with Pawar’s relatives, has been...

India's agriculture and allied sector grew by 3.8 per cent in the first six months of the current fiscal, against one per cent in the year-ago period on the back of better Kharif crop output. According to the GDP data released by the Central Statistical Organisation (CSO) today, the country's farm sector grew by 2.5 per cent and 4.4 per cent each in the first two quarters of the current fiscal,...

The indiscriminate use of fertilisers, insecticides and pesticides over the years has led to deterioration of soil quality and crop productivity in India. According to a study conducted by the central soil water conservation research and training institute (CSWCRTI), Dehra Dun, about 1 millimetre of top soil is lost every year due to erosion. This leads to a total soil loss of 5,334 million tonnes annually, at an average rate...

I have not received any official communication: Kerala Minister The proposed field trial comes at a time when natural rubber production has virtually stagnated In the face of opposition from the Kerala government to all genetically modified (GM) crops, the Genetic Engineering Approval Committee (GEAC) is learnt to have approved a proposal from the Rubber Board for conducting field trials of GM rubber. The GEAC has been constituted by the Union Ministry...