SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani  has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...

Ten years, 125 more heads. Hardly anything to write home about in these times of billion-plus populations, but anthropologists aren’t complaining. Not when the last headcount showed 240 and the people in question are a threatened tribe — the Jarawas. The latest report by the Andaman Adim Janjati Vikash Samity (AAJVS), a government-affiliated autonomous agency headed by the Union territory’s lieutenant governor, shows the Jarawas now number 365 — 125 more since...

Congress president Sonia Gandhi on Friday said that the central government would soon bring forth a food security bill for the benefit of the poorest sections of society. Addressing a Congress workers' 'Sadbhavna Rally' at Sewagram in Wardha district, about 85 km from here, Gandhi pointed out that the government has already legislated the Right to Education to ensure education for all children, and the food security bill will be the...

Five years ago, when the proposed National Rural Employment Guarantee Act (NREGA) was a subject of fierce controversy, Bunker Roy compared the attitude of the government to that of a dog who crosses a road half-way, can’t decide whether to go forward or backward, and gets run over. This enlightening image applies again today, in the context of the proposed National Food Security Act (NFSA). The National Advisory Council (NAC) discussed...

Services and goods associated with information and communications technologies (ICTs) are creating opportunities for the poor, but those sources of income are unevenly distributed and not always sustainable, the United Nations Conference on Trade and Development (UNCTAD) said today in a new report. In Kenya, for example, there are now more than 18,000 agents for the M-PESA mobile telephone-based money transfer service, and Bangladesh has some 350,000 “village phone ladies,” UNCTAD...