It has been lauded as one of the most promising ways of using the market to reduce poverty and boost economies in some of the world's most deprived areas. But in recent months the work of microfinance institutions (MFIs), which provide small loans to poor people with no access to traditional banking services, has come under scrutiny after a spate of suicides in the Indian province of Andhra Pradesh was linked...

A few years ago, Paul Kagame, president of Rwanda, had a chance meeting with Som Pal, former member of the Planning Commission and earlier minister of state for agriculture, and was bowled over by his sage-like views on developmental issues. The president promptly invited Som Pal to his blighted country to suggest policy measures to get out of a developmental quagmire. Som Pal travelled to Rwanda; he was hosted at...

Wants limit to be raised to 49% Keen to enter the growing insurance sector, U.S. billionaire Warren Buffett on Friday wondered if India would raise the FDI limit in the sector to 49 per cent. The U.S.-based company is keenly watching the developments regarding further opening of the sector to foreign Investment. Mr. Buffett, whose group Berkshire Hathaway recently entered the Indian insurance market, called on IRDA Chairman J. Harinarayan here and...

Eighty labourers, both men and women, are at work at Thiruvanduthurai village in Tiruvarur district of Tamil Nadu, about 325 km south of Chennai. They are digging a pond - about an acre wide and six feet deep - funded under the Mahatma Gandhi National Rural Employment Guarantee Scheme, or MGNREGS. Outside the work perimeter, two middle aged men look on, worried. P. Murugan and K. Govindaraj are farmers from the...

India is expected to witness 5.4 per cent growth in the farm sector in the current fiscal 2010-11 as indicated by substantial expansion in area and production of major crops in both Kharif and Rabi seasons, official sources said today. "In the first half of 2010-11, farm sector has achieved growth of 3.8 per cent, rebounding from -0.1 per cent and 0.4 per cent in the previous two years," an official...