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...

An unprecedented economic growth during the last decade has also seen increasing malnutrition, hunger and starvation amongst certain sections of society. India ranks 66 in the Food and Agriculture Organisation’s (FAO’s) World Hunger Index of 88 countries (Inter-national Food Policy Research Institute). More than 200 million people in this country are denied the right to food. One-third of all underweight children (57 million) in the world due to lack of...

-PTI The Supreme Court today refused to quash criminal proceedings against former BJP chief Bangaru Laxman for allegedly receiving Rs one lakh bribe from undercover scribes to favour them in a 'fictitious' defence deal.  A bench headed by Justice A K Ganguly refused to interfere in the proceedings of the lower court, which is conducting the trial in the case, and dismissed the plea of the 72-year-old politician.  The court, however, made it...

-EPW   With laws like the AFSPA, when will truth and justice prevail in Jammu and Kashmir? Like all Jammu and Kashmir (J&K) chief ministers after the dreadful years of president’s rule from 1990 to 1996, Omar Abdullah too stands discredited, especially in the wake of the 2010 uprising of the “stone pelters” which was later brutally suppres­sed. A widely held opinion in the Kashmir Valley is that the chief minister, whether of...

On August 26, Japanese Prime Minister Naoto Kan resigned, taking responsibility for the disastrous meltdown of the Fukushima Daiichi nuclear power plant, which was caused by the March 2011 undersea earthquake and ensuing tsunami.  In India, on the other hand, the deliberate contamination of a drinking water tank with radioactive waste in the Kaiga nuclear power plant in Western Ghats in the state of Karnataka has gone unpunished for two whole...