Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...

-Economic and Political Weekly   Mamata Banerjee concurs with P Chidambaram’s counterinsurgency strategy. She revels in rhetoric – Mamata Banerjee’s word of honour was parivartan (change). A large section of the people of West Bengal desperately wanted change, so parivartan brought her to the helm at Writers’ Building, with its Corinthian facade carrying over from the heyday of the East India Company, now, of course, the office and secretariat of the chief minister...

Caught in the middle of a maelstrom of controversies, the Planning Commission has been accused of being disconnected from ground realities. Its 12th Plan hopes to fix that. A short while ago, the Congress general secretary and scion of the Nehru-Gandhi dynasty, Rahul Gandhi, remarked that members of the Planning Commission are not in touch with the ground realities in India. He could have been somewhat influenced by his father, former...

It will be shared with all-party delegation: Chidambaram The Jammu and Kashmir interlocutors on Wednesday submitted their final report to Union Home Minister P Chidambaram, focusing on a “permanent political settlement of the Kashmir problem.” “The report deals with issues pertaining to economic, social and cultural aspects of Jammu and Kashmir,” eminent journalist Dileep Padgaonkar told journalists outside the North Block office of the Home Minister soon after submitting the report. He...

-The Hindu   Speakers at a meeting convened by the Left parties here on Saturday on SC, ST Sub-Plans said that the Scheduled Castes and Tribes in the State were still being subjected to social and government discrimination. Respecting them properly was the prerequisite to the effective implementation of the SC, ST Sub-Plans effectively, they felt. The speakers suggested booking of criminal cases against the officials who fail to spend or divert the...