It has been lauded as one of the most promising ways of using the market to reduce poverty and boost economies in some of the world's most deprived areas. But in recent months the work of microfinance institutions (MFIs), which provide small loans to poor people with no access to traditional banking services, has come under scrutiny after a spate of suicides in the Indian province of Andhra Pradesh was linked...

The earlier draft covered only non-NBFC MFIs incorporated as trusts and non-governmental organizations that constitute a very small part of the total industry The proposed microfinance Bill for governing India’s Rs. 22,000 crore microlending industry is set to give more teeth to the Reserve Bank of India (RBI) to regulate larger microfinance institutions (MFIs). This will be done by removing such entities from the purview of laws enacted by state governments...

In letters to Prime Minister, he pitches for the project to continue and vouches for rehabilitation Digvijay urged Manmohan to get Environment Ministry to withdraw order suspending work He also said the State had made substantial progress in rehabilitation While he seldom misses an opportunity to attack the ruling Bharatiya Janata Party government in Madhya Pradesh, documents recently accessed through the Right to Information Act show that the former Chief Minister and AICC...

Scavengers, street vendors and other informal workers are falling further behind as the global economy recovers, amid rising competition from hordes of new working poor , a study released Wednesday said. A survey of people struggling in the so-called "informal job sector" in nine Asian, African and Latin American countries found they had largely missed out on the benefits of the rebound from the 2008 financial crisis. "Incomes have risen for some...

CPM Politburo member and Kerala Home Minister Kodiyeri Balakrishnan has assets worth Rs 76.65 lakh, according to the affidavit filed by him on Thursday as part of his election nomination papers for the April 13 assembly polls in the state. Balakrishnan, who filed his nomination from Thalassery assembly constituency in Kannur district, declared that he has Rs 36.20 lakh worth assets and his wife Rs 40.45 lakh. He said that he has...