The Kerala government will implement the World Bank-funded Dam Rehabilitation and Improvement Project (DRIP) from January. The project, which aims at improving the safety and operational performance of selected structures, will cover dams, barrages and regulators, totalling 19, of the Irrigation Department and 12 projects of the Kerala State Electricity Board. C.N. Sathi, Chief Engineer (Investigation and Designs) of the Irrigation Department, told The Hinduthat the department had sought the release of...

Faced with a liquidity crunch, microfinance companies have asked RBI to direct banks to set up an emergency fund of Rs 1,000 crore to help them tide over slowdown in their business. Sources said the Microfinance Institution Network (MFIN) is trying to convince the central bank in this regard. The micro finance sector has been reeling under a liquidity crisis after the Andhra Pradesh government issued an ordinance to control interest...

NREGA workers lifted their 47 days long Satyagrah/Dharna after the Center and Rajasthan State governments agreed to their demand wages on basis of Minimum Wages Act 1948. As per the press releas of SR Abhiyan, the struggling organization, on November 11, Mrs Gandhi wrote to the Prime Minister communicating the consensus reached in the NAC meeting on October 23, that workers should be paid minimum wages as notified under the...

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,...

Frequent and unrelenting protests against land acquisition seem to have compelled political parties to take the issue seriously. The Centre has promised to introduce a redrafted land acquisition Bill during the winter session of Parliament. As per official pronouncements, the Bill will provide for higher compensation to the affected parties. Besides, acquisition for private companies will be restricted to less than 30% of the total land required for the project. However,...