Neglected by conventional banks, low-income women in Satara have set one up themselves. Not long after Chetna Gala Sinha came to the drought-stricken region of Mhaswad in western Maharashtra to marry a farmer and prominent local social activist, she began putting her university degree in finance into action. Local women, she observed, were wearing themselves out in subsistence livelihood such as growing grapes or selling vegetables. In 1992, Chetna, who grew up...

The corruption paranoia, blamed for the policy paralysis at the Centre, is threatening to take a toll on Bengal by clouding the timetable of the much-delayed Jindal steel plant at Salboni. Banks and financial institutions are unwilling to give loans to the project because of uncertainties surrounding the mining sector. The Jindal project may require loans totalling Rs 10,000 crore in the first phase to build a 3-million-tonne plant. The proposed Salboni...

The Jharkhand government has appealed to Maoist rebels to make a fresh beginning in the New Year by surrendering to the rule of law, as it responded to feelers from a section of cadres, but did not promise any let-up in ongoing anti-rebel operations. The government gave a month’s time to active members of CPI(Maoist) to return to the mainstream, through an advertisement in local dailies on December 31. In the public...

The Finance Ministry has launched a concessional loan scheme for farmers to prevent distress sale of agricultural produce. Farmers who park their produce at warehouses will be able to avail short-term post harvest loan at 7% as against the prevailing rate of 11%-12%. Farmers making timely payment of the loans will further enjoy 3% interest subvention, bringing the real interest rate to 4%, according to the finance ministry directive. This will benefit...

River Brahmaputra has eaten more than half of Asia's largest riverine island Majuli over the last 60 years. With land disappearing, there is progressive loss of the traditional means of livelihood of its people, leading to their displacement. Some lately are migrating even as far away as Andhra Pradesh, finds out Sangeeta Barooah Pisharoty after a visit. Farmer Sridhar Bora stops mid-way as he brings down his axe on a tree...