Ms. Bhatt has helped poor women attain dignity and independence “Investing in women is one of the most powerful ways to fight poverty” Ela Bhatt, founder of the Self-Employed Women's Association, was presented with the first Global Fairness Initiative Award by United States Secretary of State Hillary Clinton, “for her contribution to India and particularly the women of India, and to the global community.” Speaking at the awards ceremony held at the Kennedy...

More public private partnerships are needed to create opportunities for the rural population India might have created its mark in the services sector — especially in information technology — on the global map, but the development of the rural sector still has a lot of ground to cover. Discussing how to innovate rural entrepreneurship towards employment at the India Economic Summit, various speakers called for increased public private partnerships to create...

Amid the heat and dust over high interest rates charged by microfinance institutions and reports of coercive recovery methods by some lenders in Andhra Pradesh, MFIs in eastern India are trying to strike a more cordial note with borrowers by lowering interest rates. At least three MFIs based out of Kolkata are on the verge of slashing lending rates by nearly 500 basis points to 19.1% per annum, on reducing balance...

Subterfuge is the favourite tool of the corrupt, when caught. That seems to be the case as the Union ministry of commerce and industry proceeds at an elephantine pace in its “inquiry” into the Rs 2,500-crore rice export scam reported in Outlook. Last year, on July 30, Parliament erupted in a furore over the revelation that despite a strict ban on exports, tonnes of 25 per cent broken, non-Basmati rice...

Tight liquidity continues; rise in bank rates likely for such lending. The Andhra Pradesh government will take some time to reply in the high court to the petitions filed against the Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Ordinance, issued last month. The Microfinance Institutions Network (MFIN), SKS Micro Finance and Spandana Sphoorty Financial have filed petitions saying the ordinance threatens to disrupt their business. The government sought an extension after...