The SKS IPO and the Andhra Pradesh ordinance have suddenly changed everything. Will it be the death knell or will it usher in a reformed and healthy industry? There are three basic facts about micro-finance in India. First, most of what is described as micro-finance industry is actually micro-loans. There is hardly any provision of micro-savings, micro-investments, micro-insurance or micro-Pensions. This is mostly because of regulatory reasons, i.e. accepting money...

After 16 days of intensive Statewide campaigning and 47 days of dharna, thousands of workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in Rajasthan scored a significant victory. Led by the Suchana Evum Rozgar Ka Abhiyan, they entered into an agreement with the State government under which they would be entitled to the prevailing minimum wage for their day's work. Describing this outcome as “historic,” social activist...

Basic social security remains out of reach for most people across the world, especially in poorer countries, despite the crucial role it plays in cushioning people from the consequences of economic crises, according to a United Nations report unveiled today. The “World Social Security Report 2010-2011: Providing coverage in times of crisis and beyond,” prepared by the UN International Labour Organization (ILO), examines the gaps in access to social security programmes...

The effect of labour-oriented schemes like MGNREGS and health insurance cover for 300 million people are yet to be captured, says U.N's labour organisation's report India has performed poorly in providing social security protection to its people until recently with “very high vulnerability” to poverty and informal labour practices in the world, according to the International Labour Organisation. In its first comprehensive ‘World Social Security Report’, which was released yesterday, the ILO...

The Congress-led United Progressive Alliance government is considering changes to the Right to Information (RTI) Act to keep the chief justice of the Supreme Court out of its ambit, prompting protests against the move by those who see it as a dilution of the law. “The proposal includes...safeguarding the sensitivity of the office of the chief justice of India,” Prithviraj Chavan, outgoing minister of state for personnel, public grievances and Pensions,...