In economic terms, it may sound vague that agricultural advances are touching Rs 30,000 crore when incidences of farmers committing suicide are on the rise in Madhya Pradesh. Over the last fortnight, three farmers have committed suicide and another is battling for life. State authorities are lending a deaf ear to the going-abouts. Against the banking details of a farmer, Shivprasad, who committed suicide on January 8 reportedly due to debt-strain,...

The Bangladeshi government has ordered an investigation into the Grameen Bank of Nobel Peace laureate Muhammad Yunus. The move follows recent allegations that nearly $100m (£64m) of Norwegian aid was wrongly transferred from the bank to other parts of Grameen. The bank strongly denied the allegations and Norway said last month that there were "no more unanswered questions" into them. The head of the probe said it would "impartially investigate" the claims. A spokesman...

The government has begun discussions with Dalit entrepreneurs on what can be done to promote business ventures set up by members of their community. As a part of its discussions with various groups before it finalizes the 12th Plan for 2012-17, the Planning Commission has sought suggestions from the Dalit Indian Chamber of Commerce and Industry (Dicci), a business group, on what can be done to spur Dalit capitalism, how these...

Microcredit is losing its halo in many developing countries. Microcredit was once extolled by world leaders like Bill Clinton and Tony Blair as a powerful tool that could help eliminate poverty, through loans as small as $50 to cowherds, basket weavers and other poor people for starting or expanding businesses. But now microloans have prompted political hostility in Bangladesh, India, Nicaragua and other developing countries. In December, the prime minister of...

The National Bank for Agriculture and Rurual Development (NABARD) will pay greater focus on financing through 'Joint Liability Groups' (JLs) in Kerala as it is found more effective way of priority sector lending. JLs are informal groups of even 4-10 individuals joining together for the purpose of availing bank loans through group mechanisms against mutual guarantee. According to NABARD's State Credit Plan 2011-12, financial inclusion through JLGs would be deepened in partnerships...