SKS Microfinance Ltd on Thursday said it may downsize operations and even “shut shop” in Andhra Pradesh, which accounts for a quarter of its business, if the southern state retains its recent Act governing microcredit operations. “If the state Act is not repealed, we wouldn’t have a choice but to shut shop in Andhra and leave,” founder and chairman Vikram Akula said. India’s largest and only listed microfinance institution (MFI) would not,...

The late Rajiv Gandhi famously, or infamously, once claimed that only 15 per cent of the funds allocated to welfare programmes ever reached the intended beneficiaries. The rest leaked enroute, entering the pockets of an assortment of intermediaries. This is a thought that the Union finance minister must always remember, especially when he sits down to allocate funds for an assortment of subsidies and some of the high-profile spending programme...

Many Indian laws do not reflect modern and enlightened concepts of justice and require major revision. The recent campaign in support of Dr. Binayak Sen has received much publicity. The mainstream media has enunciated his cause and dissected the evidence, conviction and judgment. Amnesty International argued that the case violated international standards for a fair trial. While Dr. Sen's conviction has received much attention, there is a need to foreground the...

When it comes to paid news, there's silence because, while Ashok Chavan might stand accused, it is the media who are on trial. The year 2010 saw journalists, their associations and unions hold more conferences and seminars on one professional issue than any other. And it wasn't on the Wage Board or the Radia tapes. Hundreds of journalists across the country attended these meetings. Dozens stood up and spoke of their...

It is tragic that the same government that gives huge corporate concessions and loses money in corruption is fighting over minimum wages. As India's — and by some reckoning the world's — largest rights-based rural safety net programme completes five years, here is a reality check. The National Rural Employment Guarantee Scheme (NREGS) has become the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). But in a monumental affront to the...