Fearing a default from Andhra Pradesh-based microfinance institutions (MFIs), whose cash flows have been disrupted by new laws, lenders have asked RBI to ensure stability by bringing the sector under its purview. In a meeting called by the Reserve Bank to discuss funding of MFIs, it asked banks whether the institutions were repaying loans on time and if the end-borrower was suffering because of the credit crunch faced by them. RBI...

Good things should not be curbed. Certainly not a Legislation to which so much is owed by so many. The Right to Information Act is a fundamental democratic achievement for India, one that took a long time in coming for a proclaimed democratic state. And when it did, the system became more transparent, if not cleaner. Ordinary citizens, urban and rural, with little or no ability to negotiate their way...

The Bengal government today pushed through a controversial bill that will empower the state panchayat department to create a parallel school education system with nearly 20,000 rural schools. The West Bengal Panchayat Board of Education Bill had fuelled widespread concern at its conception itself but the Left government bulldozed the Legislation through the Assembly today in the face of a walkout by the combined Opposition. At the root of the overdrive appears...

The National Advisory Council (NAC) is working to strengthen the new rights-based architecture in the country, by creating a mechanism that will put pressure on the States to strictly implement not just the social sector schemes the United Progressive Alliance (UPA) has created of late, but also those in the works such as the one related to food security. NAC sources told The Hindu that while the government had enacted laws...

When we talk of India's mammoth work force, be it in rural or urban scenarios, what comes to mind is the 'unorganised' sector. They form the multitudes that do not 'belong' to a sector governed by a slew of measures in accordance with labour laws or employment terms defined by policy measures. These are the multitudes, which fall outside the ambit of Central Government Legislation pertaining to wages and salaries....