Microcredit lifted 10 million Bangladeshis out of poverty between 1990 and 2008, according to a report. The work of Grameen Bank and others helped many families to raise their income above $1.25 a day, said the US-based Microcredit Summit Campaign. The study follows recent criticism of microfinance, which works by providing small loans to people to invest in generating their own incomes. Some experts argue the report may have missed the bigger picture. They...

A number of questions on the Unique Identification (UID) project continue to remain unanswered while the project itself is necessitated by the government's policy shift to play an indirect rather than direct role in providing services, a panel of researchers told journalists on the sidelines of a public talk on the subject at St. Xavier's College here on Saturday. Usha Ramanathan, researcher on jurisprudence, poverty and rights, said it was not...

Every passing day makes it clear that the proposed food security law may not come by for a while. One report quoting the Planning Commission even suggested that it can be expected only in 2012. This Twelfth Plan (2012-17) launch has support from the concerned dual Ministry of Agriculture as well as Food, Consumer Affairs and Public Distribution. In that eventuality it does mean a surge in food insecurity.A dispassionate...

Two months after the crisis in the microfinance industry broke out, resulting in the possibility of bank loans to the sector becoming non-performing, the government now wants to do a reality check. Last evening, the finance ministry dashed off a letter to public sector banks, Small Industries Development Bank of India and National Bank for Agriculture and Rural Development, asking them to furnish data on how much exposure they have to...

The home ministry is opposing a proposal by the rural development ministry to merge a census to identify families living below the poverty line with the caste census, raising the possibility of a conflict between two key ministries. “We have objected to the move as it would lead to many complications,” said a home ministry official. The rural development ministry had recommended carrying out the two enumerations simultaneously to accelerate the process...