The Andhra Pradesh Government plans to provide rural connectivity in 14 districts across the state. The project has been linked to the Centre's Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). The government issued a GO on March 3, extending the project to 14 districts, which would get internal roads and drains in the next two years. The project would provide these facilities in Krishna, Guntur, Prakasam, Vizianagaram, Visakhapatnam, Mahabubnagar, Rangareddy,...
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New draft of MFI Bill to give more teeth to RBI by Dinesh Unnikrishnan
The earlier draft covered only non-NBFC MFIs incorporated as trusts and non-governmental organizations that constitute a very small part of the total industry The proposed microfinance Bill for governing India’s Rs. 22,000 crore microlending industry is set to give more teeth to the Reserve Bank of India (RBI) to regulate larger microfinance institutions (MFIs). This will be done by removing such entities from the purview of laws enacted by state governments...
More »Dismal MP agri credit growth bankers show least interest by Shashikant Trivedi
After the sanctioning of education loans, the public and private sector commercial bankers have shown almost no interest in sanctioning farm loans this year. The farmers in Madhya Pradesh continue to face financial strain and have stayed away from bankers. But the bankers consider last year’s debt waiver scheme being responsible for the low agri credit flow. While state-owned cooperative bankers moved ahead in sanctioning and disbursing priority sector advances, private...
More »DMK's free lunches turn costly by N Madhavan
Eighty labourers, both men and women, are at work at Thiruvanduthurai village in Tiruvarur district of Tamil Nadu, about 325 km south of Chennai. They are digging a pond - about an acre wide and six feet deep - funded under the Mahatma Gandhi National Rural Employment Guarantee Scheme, or MGNREGS. Outside the work perimeter, two middle aged men look on, worried. P. Murugan and K. Govindaraj are farmers from the...
More »Why is RTI back in news?
Why are the erstwhile RTI campaigners so alarmed five years after it became law? Why so many dharnas, rallies, conventions and hunger-strikes all over again? Part of the reason is that the silent revolution that the RTI has spawned needs to be defended from surreptitious alterations and manipulations, and partly because the RTI activists are being threatened, harassed and assaulted by the corrupt and the powerful, often with the connivance...
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