As part of its financial outreach programme in tune with national priority, city-based private sector Karnataka Bank Limited is all set to launch KBL-Empower Biometric smart card  at Babbur in Hiriyur taluk of Chitradurga district on Wednesday. P Jayarama Bhat, managing director of the Bank, will launch the card in the presence of Range Gowda, CEO, Chitradurga ZP who will distribute the card to the beneficiaries. With this, the bank is...

SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani  has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...

A timely reality check on public policies in the developing world, the Global Hunger Index 2010, (GHI) released by the International Food Policy Research Institute, reveals the disturbing fact that the number of hungry people in the world hovers around the one-billion mark. Although this year's estimates by the Food and Agriculture Organisation place the figure at 925 million, barely a year ago, at the height of the recession, “the...

Last month, leaders from 185 countries met in New York to take stock of progress in achieving the Millennium Development Goals (MDGs) — which include, among other things, eradicating poverty and hunger, reducing child mortality, improving maternal health — that were set in 2000 by the United Nations. The aim was to achieve these goals by 2015. But 10 years down the line, the world is way behind targets in achieving...

Services and goods associated with information and communications technologies (ICTs) are creating opportunities for the poor, but those sources of income are unevenly distributed and not always sustainable, the United Nations Conference on Trade and Development (UNCTAD) said today in a new report. In Kenya, for example, there are now more than 18,000 agents for the M-PESA mobile telephone-based money transfer service, and Bangladesh has some 350,000 “village phone ladies,” UNCTAD...