The microcredit revolution has been celebrated for helping poor women in developing countries start small businesses. By borrowing money for purchases such as a buffalo or sewing machine, the women were able to help lift their families out of poverty. But critics say the microcredit model has been perverted by commercial greed in India, with reports of abusive collection methods and sky-high interest rates. "What began as a simple, innovative model...

The hopes of an early compliance to their demand of payment of minimum wages receding, the MNREGA workers, who are on an indefinite dharna here, on Saturday threatened to observe a “Black Diwali” this season. The dharna, convened by the Suchana Evum Rogar Ka Adhikar Abhiyan, on its 29th day was attended by over 2,000 persons from 22 districts of Rajasthan. The workers took out a rally in the evening demanding...

Contradicts Centre's line on issue of minimum wages payment Going against the view of the United Progressive Alliance government, the Sonia Gandhi-led National Advisory Council (NAC) has favoured the payment of statutory minimum wages to workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS). The NAC's line is in conflict with the January 1, 2009 notification issued by the Union Ministry of Rural Development, delinking the MNREGS wages from The...

The National Commission for Women on Saturday said it was "alarming" that around 70 per cent of girls are below 18 at the time of their marriage in Hindi-speaking states like Uttar Pradesh, Madhya Pradesh, Rajasthan and Bihar. Furnishing details, NCW chairperson Girija Vyas said 73 per cent girls under 18 marry in Madhya Pradesh followed by Rajasthan 68 per cent, Bihar 67 per cent and Uttar Pradesh 64 per cent. She...

In a significant step towards foolproof monitoring of micro finance institutions (MFIs) and gaining first-hand information on multiple lending, excessive rural indebtedness and irregularities in the sector, the state government has constituted four working committees that would integrate various databases of SHG bank linkage, ration cards & borrowers' data being submitted by MFIs on a priority. These committees would create and maintain the website on MFIs and also help in responding...