Fearing a default from Andhra Pradesh-based microfinance institutions (MFIs), whose cash flows have been disrupted by new laws, lenders have asked RBI to ensure stability by bringing the sector under its purview. In a meeting called by the Reserve Bank to discuss funding of MFIs, it asked banks whether the institutions were repaying loans on time and if the end-borrower was suffering because of the credit crunch faced by them. RBI...

Prime Minister Manmohan Singh has assured a delegation of TDP-Left parties combine that he would look into the issue of alleged suicide by farmers in Andhra Pradesh who were severely affected in the unprecedented rains and cyclonic storm in the last few months in the State. The delegation highlighted the plight of farmers who were hit as their produce like paddy, cotton, tobacco, red gram, chillies and oil seeds were damaged/discoloured...

Prime Minister Manmohan Singh on Tuesday released Rs.400 crore for the Andhra Pradesh Government as advance from the National Calamity Contingency Fund to take up immediate relief and rehabilitation measures in the State that were affected by unprecedented rains and cyclonic storms in the last few months. Dr. Singh told a delegation of over 20 Congress MPs that the Centre would take speedy action on the reports of the Central team...

If present political trends and shifts in Andhra Pradesh intensify, the State could see an election within a year. And not just over Telangana. When Chandrababu Naidu sits on a hunger fast for suffering farmers, you know something is afoot in Andhra Pradesh. Excessive rains have devastated the crops in the State. And losses have been enormous. But a farmer losing over Rs.15,000 on an acre of paddy will get less...

75 farmers have lost their lives in Andhra Pradesh The Communist Party of India on Monday asked the Centre to declare the loss of standing and harvested crops over 75 lakh acres across three States – Andhra Pradesh, Orissa and Tamil Nadu – as a national calamity and announce compensation for it. CPI general secretary A.B. Bardhan, in a letter to Prime Minister Manmohan Singh, drew attention to the huge loss suffered...