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...

-The Hindu   The Central Bureau of Investigation (CBI) has registered five Preliminary Enquiries (PEs) relating to alleged irregularities in the funds allotted to the National Rural Health Mission (NRHM) in Uttar Pradesh since its inception in 2005-06, CBI spokesperson said here on Saturday. The PEs were registered on the directions of the Allahabad High Court's Lucknow Bench. They pertain to civil works of Director-General (Family Welfare), procurement of medicines and equipments and information,...

The government has asked banks to accept identity proofs issued in other states as valid documents for opening no-frills bank accounts, in a move that will help millions of migrant workers, including domestic helps and drivers, access Banking Services.  At a specially convened meeting to push the financial inclusion agenda, the finance ministry asked bankers to accept the identity proofs and use their branch network in other states to verify the...

The word ‘hunger’ does not appear in the 12th Plan Approach Paper even once, whereas according to the latest Global Hunger Index Report, India continues to be in the category of those nations where hunger is ‘alarming’. What is worse, India is one of the three countries where the hunger index between 1996 and 2011 has gone up from 22.9 to 23.7, while 78 out of the 81 developing countries...

The Smart Card Project is helping nearly 12.7 million poor people in Andhra Pradesh to get timely payment of wages It was conceived as a vehicle to promote financial inclusion by taking Banking Services to the unbanked poor, harnessing information and communications technology to ensure the benefits of public welfare programmes reach those they are intended for by plugging leakages. The Andhra Pradesh Smart Card Project, launched in 2007, is...