The opening day of the U.N. climate change conference on Monday laid great emphasis on achieving a package of decisions at the end of the 10-day deliberations. “Cancun can,” quipped Danish Minister for Climate Change Lykke Friis. A sticky point could be the International Consultation and Analysis (ICA), in which India hopes to play a deal-maker, according to official sources. With 25 heads of state confirming their participation in the conference,...
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New loan sharks by S Nagesh Kumar
The rural poor in Andhra Pradesh, a State showcased as a model for SHG-bank linkage, are caught in the vortex of microfinance. WITHIN a decade of their coming into operation, microfinance institutions (MFIs) have dealt a serious blow to the economy and the well-being of thousands of families in rural Andhra Pradesh. Harassment by their collection agents has allegedly driven at least 60 borrowers to death, and the number is...
More »Panaji: Over Rs 3 Crore Paid Under MGNREGA in Goa
A total of Rs 3,79,29,000 have been paid to the unskilled workers under Mahatma Gandhi National Rural Employment Guarantee Scheme MGNREGA so far in the state, said Union Minister for Rural Development Dr C P.Joshi informed Shantaram Naik MP in a written reply to the question asked by him in the Rajya Sabha on the subject. Minister said that at the time of commencement of the scheme wage rate in Goa...
More »Micro finance, macro objectives by Krishnamurthy V Subramanian
Sample some data on the microfinance performance in India: According to the data provided by www.mixmarket.org, microfinance in India reached close to 270 lakh active borrowers in 2009, with the average loan size close to Rs 8,000. This translates into total borrowing to over Rs 20,000 crore. Though this number seems large, it represents only 0.3% of our GDP. Thus, large swathes of poor, both in our villages and urban...
More »Nearly Rs 90,000 cr credit disbursed to farmers in Q1
Banks have disbursed nearly Rs 90,000 crore credit to farmers in the April-June quarter of this fiscal, the government said on Monday. The government has fixed the credit flow target during 2010-11 fiscal at Rs 3,75,000 crore. "Agriculture credit of Rs 89,687 crore has been disbursed to farmers across the country till June 2010 in the financial year 2010-11," an official statement said. The credit Disbursement in 2009-10 was Rs 3,66,919 crore against...
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