Public uproar over 20 suicides in two months has forced the Andhra Pradesh government to act to regulate micro-finance institutions. On October 14, the state government brought an ordinance making it compulsory for MFIs to register themselves, declare the effective rate of interest they charge, ensure that no security is sought for loans and no coercion is used for recovery. Non-compliance will be punished with a three-year prison term and a...
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Court rejects plea to make property a fundamental right by J Venkatesan
The Supreme Court has dismissed a public interest litigation petition seeking a direction to make ‘right to property' a fundamental right under the Constitution. Though the ‘right to property' was deleted by the 44 {+t} {+h} Constitution Amendment in 1978, it was challenged only in 2007 in the context of acquisition of large extents of land for Special Economic Zones, and the court issued notice to the Centre. It was contended in...
More »Nationwide rally to save agriculture reaches Mumbai
The Kisan Swaraj Yatra, a countrywide rally of farmers questioning the corporatisation of rural farms, reached the city on Sunday morningfrom Ralegaon Siddhi after covering 20 states over 71 days. The rally has demanded an explanation on the socio-cultural, environmental and political ramifications of such rampant corporatisation. It has modelled itself after Gandhi’s Dandi March. The march, that began on October 2 at Sabarmati, will end at Rajghat on December 11....
More »Biotech route to help curb food shortage by Gyanendra Shukla
Two walls of extremes are closing in fast on mankind. The spectre of climate change threatens agriculture, especially in developing countries where farming is dominated by smallscale farmers heavily relying on rainfall. Along with this, is the scourge of burgeoning population, which is likely swell to 9 billion in the next 40 years. According to the Food and Agricultural Organisation (FAO), about 14% of the 6.5-billion world population are affected by...
More »Haryana asks banks to reduce rate of interest
Haryana Chief Minister Bhupinder Singh Hooda today said nationalised banks should reduce interest rates as has been done by state cooperative banks on short-term loans to small and marginal farmers in the state. This issue was raised with State Bank of India officers here today on the occasion of signing of Memorandum of Understanding (MoU) between Lakshya Food India and State Bank of India (SBI), an official release said. The...
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