National Advisory Council chairperson Sonia Gandhi has requested Prime Minister Manmohan Singh to give “suitable directions” to rescue the MNREGA and ensure that all workers get paid in accordance with the Minimum Wages Act (1948). In a letter dated November 11, Sonia Gandhi, who is also UPA chairperson, has appended a 10-page note on the subject. The note details the concerns and outlines the legal arguments in support of paying workers...

Calls for “suitable directions” on paying statutory minimum wages A follow-up to NAC meeting, which felt there should be no deviation from statutory wages Andhra Pradesh and Gujarat Chief Ministers have also made a strong plea for minimum wages Sonia Gandhi has written to Prime Minister Manmohan Singh urging “suitable directions” on paying statutory minimum wages to workers employed under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS). The November 11 letter is...

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...

Leading micro-lender SKS Microfinance today hinted that it could move the courts if the recent Andhra Pradesh notification prohibiting collection of loan repayments on a weekly basis is not withdrawn.The notification stipulated that the periodicity of repayment by self-help group (SGH) members to MFIs should not be less than a month, even under existing loan agreements.However, microfinance institutions operating in the state have railed against the move."In the event the...

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...