Banks will have to put in place a mechanism to verify that microfinance institutes (MFI) they finance do not charge exorbitant rates to the final borrowers. The finance ministry has asked banks to ensure that MFIs, whom banks are financing, do not lend at rates more than 24% — all inclusive rates — to the ultimate borrowers. Some banks have recently inserted a clause while lending to MFIs that they...
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The backlash begins against the world landgrab by Ambrose Evans-Pritchard
The neo-colonial rush for global farmland has gone exponential since the food scare of 2007-2008. Last week's long-delayed report by the World Bank suggests that purchases in developing countries rose to 45m hectares in 2009, a ten-fold jump from levels of the last decade. Two thirds have been in Africa, where institutions offer weak defence. As is by now well-known, sovereign wealth funds from the Mid-East, as well as state-entities from China,...
More »The next frontier is rural net penetration
A seven-state survey on rural internet awareness revealed that close to 84% were ignorant of the medium’s existence. Of the ones who did know about it, 85% used the net only to access emails, 13% to know about the latest farming techniques and 8% to look up fertilisers, among other uses. We can acknowledge that internet penetration so far has been weak; but the past is not a guide to...
More »Government's Rs241-crore debt relief package to benefit 75,000 coffee farmers
The government has launched a relief package, which will directly address the problems of the coffee growers, especially the small growers. Commerce and industry minister today flagged off the implementation of the `Coffee Debt Relief Package, 2010' by distributing the first batch of certificates to those small coffee growers whose loans have been waived under this package. This is the first time that the Government of India has come forward with...
More »Displacement
KEY TRENDS • Section 105 of the Right to Fair Compensation and Transparency in the Land Acquisition, Rehabilitation and Resettlement Act, 2013, which provides for excluding 13 Central legislation, including Land Acquisition (Mines) Act 1885, Atomic Energy Act, 1962, Railway Act 1989, National Highways Act 1956 and Metro Railways (Construction of Works) Act, 1978, from its purview, has been amended for payment of compensation with rigours $ • The amendments have now...
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