India has slipped to 87th spot in Transparency International’s latest ranking of nations based on levels of corruption, with the global watchdog asserting that perceptions about corruption in the country increased in the wake of the Commonwealth Games Against the backdrop of alleged irregularities in the recently held Commonwealth Games (CWG), India’s perceived corruption levels have gone up, with a corresponding worsening of its world ranking. According to Transparency International’s Corruption...

The accusation of ‘coercive' practices to recover the loans has been laid at the doors of some leading players Micro Finance institutions (MFIs) that are for profits are in the news for the wrong reasons. The ‘for profit' MFIs have grown spectacularly in recent times. But along with the large profits have come allegations of sharp practices. In Andhra Pradesh, where such MFIs have a sizable presence, the climate has now drastically...

The Rs 51,000-crore Posco steel project in Orissa, that has been delayed for five years, faces the prospect of getting delayed further. The ministry of tribal affairs is now looking at the possibility of whether the South Korean steel project, which also represents the largest foreign direct investment (FDI) in India so far, has actually encroached into the land owned by tribals. The Union ministry of environment and forest (MoEF) has...

Both Posco and the Orissa government said there were no tribals on the land for Posco’s 12 mn tonne steel plant. The presence of 21 tribals in the voters list has hit their credibility and probably the plant as well A 4-member environment ministry committee has recommended that the environmental clearances given to Posco be revoked for the violation of existing laws, for serious lapses and suppression of facts. As always,...

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...