Last month, a group calling itself the “Maa Danteshwari Swabhimani Adivasi Manch” circulated a pamphlet in Dantewada district, threatening to kill anyone perceived to be a supporter of the banned Communist Party of India (Maoist). The pamphlet accused Dantewada's oldest journalist N.R.K. Pillai, Anil Mishra, Chhattisgarh Correspondent for Tehelka, and Yashwant Yadav, District Secretary of the Chhattisgarh Working Journalists' Union, of working for the Maoists and threatened them with dire circumstances. The...
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The great onion robbery: 135% mark-up from mandi to retail by Subodh Varma
Speculative traders are making super-profits by fixing prices in the onion trade while the government is playing around with ad hoc fixes. On Tuesday alone, wholesale traders in Delhi bought onions at about Rs 34 per kg while it was sold in retail at Rs 80 per kg. That's a margin of Rs 46 per kg or 135%! About 11,445 quintals of onion were bought in the Delhi wholesale markets on...
More »Banks want RBI to watch MFIs
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...
More »India cries onion tears as prices touch Rs 70-80 a kilo
Onion prices have hit the roof across the southern states — Maharashtra, Karnataka, Tamil Nadu and Andhra Pradesh. From Pune, Bangalore and Chennai the retail market feedback was the worst, a kilo going for between Rs 70 and Rs 80. Prices in Hyderabad too showed a steady rising trend. At supermarkets in glitzy Banjara Hills they had touched Rs 50 a kg and market watchers feared the rates could go even...
More »Rural retail gets a ‘suppat’ surprise by Antara Bose
No celebrity visits or satellite banking system? Never mind, bring on ‘suppat’. Unlike Doba, three other villages of Lohardaga district may not have been lucky enough to get Reserve Bank of India’s smart card based satellite-banking system. But they have a ‘suppat’ surprise up their sleeves. ‘Suppat’ or ‘super’ in tribal dialect, is also the name of a rural chain of mom-and-pop stores initiated by a private party, Dynamic Tarang Pvt Ltd,...
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