India’s microfinance institutions (MFIs), under pressure because of stricter rules in their largest market Andhra Pradesh and the consequent slump in repayments there, may get a boost from the Asian Development Bank (ADB). ADB is constituting a $250 million (around Rs1,135 crore) facility to offer guarantees against loans to MFIs extended by banks in the Asia-Pacific region where it operates, including India. The move is aimed at encouraging banks to lend...
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Plugging the leaks in rural job plan
On the fifth birth anniversary of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) last Wednesday, UPA chairperson Sonia Gandhi admitted discrepancies in the biggest job guarantee scheme in the world. Gandhi, who is also National Advisory Council (NAC) chief, was referring to fake job cards, forged muster rolls and funds swindled by village heads, officials, etc. She was quick to pinpoint the course correction — a strengthened social audit....
More »Tracking Nilekani by Latha Jishnu
If the Unique Identity project is such a good thing why is the man heading it unable to answer simple questions about it? Since the publication of his doorstopper of a book Imagining India in 2009, Nandan Nilekani has done a superb job of reinventing himself. The former head of software giant Infosys Technologies was overnight cast in the role of a visionary with his unabashedly free market prescription to turn...
More »12 farmers attempt suicide in Karnataka
Condition of six serious; they wanted government intervention to help stabilise the price of red gram In a bizarre turn of events, 12 agitating farmers in Karnataka attempted suicide in a tahsildar's office on Friday by consuming pesticide and reports said that the condition of six of them was serious. The farmers of Jewargi town, belonging to the Gulbarga District Raita Raitha Horata Samiti, had been on agitation for the past...
More »Post offices in the service of unique identity project by Sandeep Joshi
Strategic partnership forged for registration, distribution of UID cards The Department of Posts on Friday announced a strategic partnership with the Unique Identification Authority of India (UIDAI) for registration and distribution of unique identification (UID) cards to citizens. The UIDAI will leverage the DoP national network for its unique identity project AADHAR. The two organisations will also collaborate to provide state-of-the-art biometric and identity authentication services. “The government sees UID as a critical...
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