The National Litigation Policy (NLP) aimed at reducing the cases pending in various courts in India is nine months old, but the Reserve Bank of India (RBI) which is supposed to implement the pro-citizen policy in the Banking sector is unaware of it. The Department of Banking Operations and Development in the RBI's central office in Mumbai has told a Right to Information (RTI) activist that it does not have any...
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Social crisis ahead: World Bank, IMF by Narayan Lakshman
Even as the World Bank and International Monetary Fund annual Spring Meetings kicked into top gear, IMF Managing Director Dominique Strauss-Kahn made a strong case for reducing global inequality if economic growth was to be sustained. Speaking earlier this week at the Brookings Institution, Mr. Kahn said, “Because growth beset by social tensions is not conducive to economic and financial stability, the IMF cannot be indifferent to distribution issues. And when...
More »Bangladesh: crisis of the Grameen Bank by Haroon Habib
U.S. support for Muhammad Yunus is so strong that Dhaka may find a negotiated settlement to protect the Nobel Laureate's image and the independence of the Grameen Bank. Nobel Laureate Muhammad Yunus's three-decades-long journey with microfinance was laborious. But he most certainly did not encounter a crisis like the one he is facing now. It was only in December 2010 that the Bangladeshi — who shared the Nobel Peace Prize with...
More »New draft of MFI Bill to give more teeth to RBI by Dinesh Unnikrishnan
The earlier draft covered only non-NBFC MFIs incorporated as trusts and non-governmental organizations that constitute a very small part of the total industry The proposed microfinance Bill for governing India’s Rs. 22,000 crore microlending industry is set to give more teeth to the Reserve Bank of India (RBI) to regulate larger microfinance institutions (MFIs). This will be done by removing such entities from the purview of laws enacted by state governments...
More »Indian newspapers love politics and business
Guess what hogs the news? In a country plagued by rural problems and social ills, it's politics and business that find the maximum coverage in newspapers and not health, education, agriculture or environment. A comprehensive study of 10 newspapers in five states from mid-September to mid- November 2010 by The Hoot, a media monitor, found that political news constituted the maximum - 15.7 percent of the total news items, followed by...
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