Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...

The fourth pillar of democracy would cease to be free if it is made accountable to one or more of the other pillars. Much of the media, says Justice Markandey Katju, the new Chairman of the Press Council of India, is of very poor intellectual level. That, even for a former judge, would be being judgmental — except that sections of the media concerned seem hell-bent on proving him right. Setting...

DR EDGAR WHITLEY is Reader in Information Systems at the Information Systems and Innovation Group in the London School of Economics and Political Science. He has a PhD in Information Systems from the LSE. His research and practical interests include global outsourcing, social aspects of IT-based change, collaborative innovation in an outsourcing context, and the business implications of cloud computing. He is also an expert in identity, privacy and security...

The anti-corruption movement has enabled the Indian middle class to feel smug about itself. Its members have gone through a vast range of emotions during the last two decades, from self-hatred to self-righteousness. Liberalisation of the economy has created for this class an excitement of many kinds. It has meant the freedom to pursue the quest for wealth without guilt and, at the same time, it has meant feeling set...

‘There is no such thing as self-regulation, every institution is accountable to the people.' We publish here an edited excerpt from a clarification issued by Press Council chairman Markandey Katju. The full text of his clarification can be read at www.thehindu.com. ‘No doubt, the media should provide some entertainment also to the people. But if 90 per cent of their coverage is devoted to entertainment, and only 10 per cent...