Sample some data on the microfinance performance in India: According to the data provided by www.mixmarket.org, microfinance in India reached close to 270 lakh active borrowers in 2009, with the average loan size close to Rs 8,000. This translates into total borrowing to over Rs 20,000 crore. Though this number seems large, it represents only 0.3% of our GDP. Thus, large swathes of poor, both in our villages and urban...

Several newspapers and TV channels, some of them among India’s biggest, have claimed credit for exposing the Adarsh society scam in which the who’s who of India’s defense and political establishment are involved. The scam exposes the nexus between bureaucrats, politicians and unscrupulous defense service officers. Obviously it wouldn’t be anyone’s ‘exclusive’ if so many newspapers and channels broke the news. Or else there would be one journalist who reported...

U.S. President Barack Obama's interaction with the inhabitants of Kanpura village in Ajmer district of Rajasthan through video-conferencing on Sunday gave him a glimpse of the information technology revolution in rural India that extends the benefits of modern technology and services to the grassroots to improve the quality of people's lives. Union Minister of State for Communications and IT Sachin Pilot led the rural group during the 10-minute interface at the...

For generations, a majority of Vidarbha’s debt-ridden farmers have only grown cotton, making themselves vulnerable to unreliable market conditions. Now, these and other districts facing an agrarian crisis, as well as the rest of the state’s agriculture community may have some reason to smile. Rs 643 crore will be pumped into the state for the farmers, with the government going ahead with its ambitious Maharashtra Competitive Agriculture Project (MACP). On Tuesday, the...

In a significant step towards foolproof monitoring of micro finance institutions (MFIs) and gaining first-hand information on multiple lending, excessive rural indebtedness and irregularities in the sector, the state government has constituted four working committees that would integrate various databases of SHG bank linkage, ration cards & borrowers' data being submitted by MFIs on a priority. These committees would create and maintain the website on MFIs and also help in responding...