While the rest of Punjab has performed poorly under the Mahatma Gandhi National Rural Employment Guarantee Act, Faridkot district is setting an example. As part of a project to clear all link roads of encroachments, the district will employ some 30,000 villagers under the MGNREGA. This scheme was kicked off on Tuesday at Ramoowala village by Deputy Commissioner Dr S Karuna Raju, who said, “the basis of this act is to...
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Microfinance: What's wrong with it by M Rajshekhar
The poster boy of microfinance is now seeking some anonymity. In Andhra Pradesh, the epicentre of the worst crisis faced by microfinance in India, SKS Microfinance is playing down its identity and going into preservation mode. At its modest office in a residential colony in Warangal district, India’s largest microfinance company has taken down its board. At its head office in upmarket Begumpet in Hyderabad, it hung a cloth mesh...
More »Need to regulate microfinance institutions: AIDWA by Parvathi Menon
Among the several resolutions passed on Thursday by the 9th conference of the All India Democratic Women's Association (AIDWA) in Kanpur, one of the most important ones was on the need to regulate microfinance institutions (MFIs), which are exercising an iron grip on Poor women debtors in several States of the country. The resolution drew attention to the “spate of suicides as a result of the harassment and strong-arm tactics employed...
More »88% women subjected to sexual harassment at workplace in IT sector, reveals survey by Aarti Dhar
Just as the Union Cabinet approved a Bill seeking to protect women from sexual harassment at workplaces, a survey by a non-government organisation has claimed that nearly 88 per cent of the female workforce in Indian Information Technology and business process outsourcing and knowledge process outsourcing (BPO/KPO) companies reported having suffered some form of workplace sexual harassment during the course of their work. Close to 50 per cent women had been...
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...
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