Leading micro-lender SKS Microfinance today hinted that it could move the courts if the recent Andhra Pradesh notification prohibiting collection of loan repayments on a weekly basis is not withdrawn.The notification stipulated that the periodicity of repayment by self-help group (SGH) members to MFIs should not be less than a month, even under existing loan agreements.However, microfinance institutions operating in the state have railed against the move."In the event the...
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CWG revenue is 80 p.c. less than expected
OC's expenditure overshot its budget by Rs. 638 crore The OC has taken Rs. 2,307.82 crore in loan, well above the originally approved amount M.S. Gill admits that there were no earnings from advertisements as such The Commonwealth Games Organising Committee (OC) has fallen more than 80 per cent short of its revenue target, according to Union Sports Minister M.S. Gill. While the OC was expected to generate Rs. 1,708 crore, it only managed...
More »Raja cost nation 1.7L cr: CAG by Pradeep Thakur & Josy Joseph
The heat on telecom minister A Raja is rising, with the Comptroller and Auditor General holding him personally responsible for the sale of 2G spectrum at dirt cheap rates in 2008, resulting in a loss of up to Rs 1.70 lakh crore to the national exchequer. The damning indictment stacks the odds even higher against Raja, who is already under intense scrutiny by the telecom watchdog, civil society and the Supreme...
More »Climate funding may need taxes on flight tickets and forex deals, says U.N. report
Taxes on international flights, shipping and financial transactions, as well as a global carbon price of $20 to $25 may be key to annually mobilising $100 billion in climate funding by 2020, according to the United Nations high-level advisory group on climate change financing, which submitted its report in New York on Friday. At the U.N. climate summit held in Copenhagen last year, developed countries committed to a goal of jointly...
More »Parliament was misled over Adarsh issue: Medha
The Mumbai Collector had, in a letter to the Defence Estates Officer, Mumbai Circle, dated July 12, 2004, denied that the government of Maharashtra allotted any land to the Adarsh Cooperative Housing Society in Colaba. Records obtained using the Right to Information (RTI) Act by the National Alliance of Peoples' Movements (NAPM), which were released on Monday by Ms. Medha Patkar, Simpreet Singh and other activists, show that the Collector accorded...
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