Given the mind-boggling figures thrown up by the CAG report on the 2G scam, the gains seem rather modest. But in the year gone by, former telecom minister A Raja's finances have shown a healthy growth with regard to both income and investments. His political career may be headed south, but Raja's finances are in the pink of health. Not only has his personal income increased from Rs 11.47 lakh to...
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Microfinance: India considers rate cap on loans to poor by Amy Kazmin
In India, commercial banks, both public and private, are required to direct a large chunk of their net credit to designated “priority sectors” seen as having a positive impact on India’s economy, and wider society – to ensure funds flow into areas the government deems important, but might otherwise be neglected. These sectors – designated by the Reserve Bank of India – currently include broad areas of agriculture, small scale industries,...
More »Andhra reply to MFI ordinance soon by B Krishna Mohan
Tight liquidity continues; rise in bank rates likely for such lending. The Andhra Pradesh government will take some time to reply in the high court to the petitions filed against the Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Ordinance, issued last month. The Microfinance Institutions Network (MFIN), SKS Micro Finance and Spandana Sphoorty Financial have filed petitions saying the ordinance threatens to disrupt their business. The government sought an extension after...
More »Five myths about microfinance by TT Ram Mohan
The microfinance bubble has burst. The AP government ordinance, the AP oppositionfs campaign asking borrowers not to repay and the sheer public hostility towards MFIs . all these have put the brakes on MFI activities for now. We need to rethink the role of MFIs in the rural economy . In order to do so, we must first grasp some of the myths on which the MFI sector has rested...
More »Malawi seeks Indian help in 'greenbelt initiative'
Inspired by India’s “Green Revolution”, Malawi has sought Indian assistance in its “Greenbelt initiative” aimed at raising agricultural output. The southeast African nation is looking to India to tap its huge uranium Deposits. Malawi is also negotiating to sign Double Taxation as well as Investment Promotion and Protection agreements with India. “Our main aim is to get India’s participation in our Greenbelt initiative to increase our farming capacity,” visiting Malawian Trade and...
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