Recent events in south ASIa have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...
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New Lamps for Old by Chandrashekhar Dasgupta
The climate change negotiations are deadlocked because of a bASIc difference of approach. Developing countries are calling for enhanced implementation of existing agreements, while developed countries are insisting on a new agreement that would shift a large share of their obligations to the shoulders of developing countries, particularly the ‘newly emerging economies’ like India and China. The European Union is calling for negotiations on a new agreement to replace the...
More »2G scam: Supreme Court grants bail to 5 corporate honchos by Dhananjay Mahapatra
The Supreme Court on Wednesday granted bail to Unitech's Sanjay Chandra, Swan Telecom's Vinod Goenka and top Reliance ADAG executives Gautam Doshi, Hari Nair and Surendra Pipara in the 2G scam case. The judgment was delivered by a bench of Justices G S Singhvi and H L Dattu on Wednesday morning. The apex court asked each accused to give a bail bond of Rs 5 lakhs with 2 sureties each. This is the...
More »Musings on the media in the dock by Sashi Kumar
The fourth pillar of democracy would cease to be free if it is made accountable to one or more of the other pillars. Much of the media, says Justice Markandey Katju, the new Chairman of the Press Council of India, is of very poor intellectual level. That, even for a former judge, would be being judgmental — except that sections of the media concerned seem hell-bent on proving him right. Setting...
More »Nobody’s Property by Lola Nayar
How do you quantify happiness in a diverse nation like ours? Growth levels, value-based structural changes, what can affect it? Life is Elsewhere? Bhutan’s GNH: Based on the Buddhist doctrine of harmony with environment and fellow beings besides material comfort UNDP Human Development Report: Ranks nations on quality of life—adjusted real income, life expectancy, education etc World Values Survey: Started in 1995, it explores impact of social and political changes...
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