For “blatant” violation of coastal zone norms The controversial 31-storey Adarsh Housing Society in Mumbai is facing demolition, as the Union Environment Ministry issued a show-cause on Friday for “blatant” violation of coastal zone norms. The Society has two weeks to submit a written reply and a further week to meet Ministry officials and make its case. The notice asked the promoters to explain “why the unauthorised structure should not be removed forthwith.” “After...

Developing countries should act now to head off their own "obesity epidemic", says a global policy group. The Organisation for Economic Co-operation and Development (OECD) says obesity levels are rising fast. In a report in the Lancet medical journal, it says low-income countries cannot cope with the health consequences of wide scale obesity. Rates in Brazil and South Africa already outstrip the OECD average. Increasing obesity in industrialised countries such as the UK and...

The Centre is planning to impose a ceiling of 18 per cent on the interest rate charged by MFIs on loans to SHGs. This was indicated by Union Finance Minister Pranab Mukherjee to Chief Minister K. Rosaiah during a telephonic conversation recently. Disclosing this at a media conference here on Monday, Minister for Rural Development V. Vasanth Kumar and Minister for Agriculture N. Raghuveera Reddy said Mr. Mukherjee informed that the...

Financial sector expert Y.H. Malegam will head a Reserve Bank of India (RBI) panel to look into the functioning of microfinance institutions or MFIs and their regulations. The MFIs are in the business of giving tiny loans. Kumar Mangalam Birla, Shashi Rajagopalan and U.R. Rao – all on the boards of the Indian central bank – and RBI deputy governor K.C. Chakrabarty are the members of the panel. The committee, which will...

Taking a serious note on the suicides due to the purported harassment or embarrassment caused by the collection agents of Micro Finance Institutions (MFIs), Minister for Rural Development, IKP, Pensions, NREGP and Self-Help Groups, Vatti Vasanth Kumar stated that the government was contemplating making an Act to streamline the operations of MFIs in AP. Talking to media persons in the New Delhi, the minister said that the government would frame rules and...