Farmers are joining India Inc in mind, body and spirit. In a quiet revolution underway across the countryside, growers are setting up companies, replete with balance sheets, professional CEOs, board of directors, and income tax returns. By pooling together the land and produce of their shareholders, these companies are signing lucrative deals with large retail chains, food companies and exporters keen to establish reliable supply chains. As many as 200 companies...
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Improve credit delivery in rural areas: RBI to pvt banks by Somasroy Chakraborty & Manojit Saha
At a time when the government and regulators are emphasizing inclusion and increase in credit delivery to those without access to formal sources of finance, private sector banks are found to have low credit-deposit ratios in rural areas as compared to public sector counterparts. In a recent interaction at the state-level bankers committee (SLBC) meeting, in which Reserve Bank of India governor D Subbarao was present, bankers brought this to the...
More »What’s Wrong and Right with Microfinance by David Hulme and Thankom Arun
Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...
More »Travails of displaced tribals of Bastar by Asha Shukla
-IANS An eerie silence welcomes me as I walk down the row of houses, not a soul in sight. I know that from every tiny window in these little brick-walled units, watchful, suspicious eyes follow my every move. They are assessing me, wondering if I am friend or foe. But then, in these thickly forested parts, the lines of distinction blurred many years ago. And their life could depend on the accuracy...
More »Aadhaar-MGNREGA experiment to be launched in Ramgarh by K Balchand
Rural Development Ministry seeks to give the scheme a base Disregarding apprehensions sounded by Union Home Minister P. Chidambaram, the Ministry of Rural Development will press ahead with its pilot project to link payments under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) with the Aadhaar number issued by the Unique Identification Authority of India in a bid to give the scheme, which is currently stuck, a base. In Ramgarh district,...
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