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...

-PTI The Supreme Court today refused to quash criminal proceedings against former BJP chief Bangaru Laxman for allegedly receiving Rs one lakh bribe from undercover scribes to favour them in a 'fictitious' defence deal.  A bench headed by Justice A K Ganguly refused to interfere in the proceedings of the lower court, which is conducting the trial in the case, and dismissed the plea of the 72-year-old politician.  The court, however, made it...

An unprecedented economic growth during the last decade has also seen increasing malnutrition, hunger and starvation amongst certain sections of society. India ranks 66 in the Food and Agriculture Organisation’s (FAO’s) World Hunger Index of 88 countries (Inter-national Food Policy Research Institute). More than 200 million people in this country are denied the right to food. One-third of all underweight children (57 million) in the world due to lack of...

A trained volunteer on a motorcycle loaded with an LCD television, a sound system and a generator set could be touring the districts soon to spread the word about the landmark unique identity project that has already seen as many as 34 lakh receive their numbers in Jharkhand. E-Avas, or Ekal Audio Visual Awareness System, designed by a local entrepreneur, will get on the road once an awareness film on the...

Poor spending on NREGS by Maharashtra - only Rs351 crore out of Rs668 crore - can be seen in two ways. One, apathy towards the poor and carelessness, and two, less Money spent means less Money stolen. All employment schemes are seen as doles, work is faked, ghosts are paid and the bucks swallowed by the establishment - politicians to petty bureaucrats - with the poor guy in the boondocks...