India’s microfinance institutions (MFIs), under pressure because of stricter rules in their largest market Andhra Pradesh and the consequent slump in repayments there, may get a boost from the Asian Development Bank (ADB). ADB is constituting a $250 million (around Rs1,135 crore) facility to offer guarantees against loans to MFIs extended by banks in the Asia-Pacific region where it operates, including India. The move is aimed at encouraging banks to lend...

Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) completes five years since its launch tomorrow. In order to commemorate the completion of the fifth year of the National Rural Employment Guarantee Act, the Ministry Of Rural Development is organizing Mahatma Gandhi NREGA Sammelan on Wednesday, the 2nd February ,2011 . Five years ago on the same day, the scheme was launched from Anantapur district in Andhra Pradesh with the objective...

NGOs To No Go’s     * NGOs have mushroomed; so have instances of misappropriation of funds     * Not disclosing expenditure and receipts; nor revealing who funds them     * Not setting up NGO for the task it was funded for     * Flocking to 'hot' topics, inviting accusations of singing to industrialists’ tunes     * For every NGO supporting a cause, another springs up against that cause *** NGO numbers     * 3.3 million Number of NGOs...

The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...

India, Switzerland had signed a protocol to amend the DTA last year It is expected to help India get details about illicit wealth India may have to wait till at least next year for information from Switzerland on the possible black money trail to Swiss banks, as a treaty for the same might come into force only by the end of 2011. The treaty needs to be ratified by various authorities in India...