Close on the heels of the recent controversy surrounding over the microfinance institutions, Karnataka government has decided to foray into the micro finance business with an initial corpus of Rs 500 crore. With this, Karnataka will join the league of Andhra Pradesh to have its own state-funded microfinance institution. The government plans to lend at the rate of 4 per cent interest per annum to unorganised sector workers. “There are about 3.5...

A lot has been said and written about the visit of Barack Obama, the President of USA to India. The corporate media was in the usual over-enthusiastic drive to bring to its readers and viewers all minute details about his visit from where he stayed and what he ate to how many warships, planes and cars accompanied him and how a whopping $200 million was spent per day for the...

Close associates and friends fondly remembered Gandhian social activist L.C. Jain at a prayer meeting held in his memory at the Gandhi Peace Foundation (GPC) here . The former High Commissioner and former Member of the Planning Commission passed away on Sunday after an illness. Separately the Planning Commission passed a resolution at a condolence meeting chaired by Deputy Chairman Montek Singh Ahluwalia recalling Mr. Jain's extraordinary services to the nation....

The pattern of land distribution has rendered rural landscape of UP disfavourable for farming. The precursor for this is the fragmentation of cultivable land into a large number of `small landholdings'. The process set under the demographic pressure, has caused marginalisation of a vast majority of farmers and posed a severe challenge to the prospects of rural economy and the growth of agriculture in future. Going by the official figure, UP...

A worried government has put on fast track the proposed bill to regulate micro-lenders, as it seeks to ensure that over-regulation by states does not kill the sector that is envisaged to play a big role in furthering financial inclusion. The finance ministry could move a bill in the winter session of Parliament that will make Nabard responsible for regulation of all non-profit microfinance institutions structured as trusts, cooperatives, or mutual...