Muhammad Yunus, the economist who founded Bangladesh’s Grameen Bank, visited Mumbai recently where he spoke to India Ink about his vision of “social businesses,” his forced departure from Grameen and the recent controversies that have dogged micro-finance in India and elsewhere. An edited, condensed version of the interview follows: Q. The microfinance industry has gone through an existential crisis in the last few years. Why did the industry fall from grace? A. See,...

Nine moths after the thrashing it received in the Assembly elections, the CPM leadership has undertaken a purge within. It has dropped 13 of its veterans from the West Bengal state committee, three of them several-term MPs, from key posts on grounds of “anti-party activities” or age and health. Party insiders say the exercise was a reflection of Buddhadeb Bhattacharjee asserting himself with the party’s state unit. Such a drive had,...

While pressure is mounting on the state government to declare the Sathyamangalam Wildlife Sanctuary as a tiger reserve, there is mounting resentment among tribals living on the foRest fringes, against attempts of the foRest department to curb access to the jungles to collect foRest produce and graze cattle. FoRest officials have already directed them to sell their cattle and look for alternative means of livelihood.  Irked by the move, over 10,000...

Dr Abhijit Sen is Member, Planning Commission of India. He is a Ph.D. in Economics from the University of Cambridge (currently on leave as Professor of Economics at the Jawaharlal Nehru University) and has also taught at the Universities of Sussex, Oxford and Cambridge. Besides serving various think tanks in the states and at the centre, Dr Sen has been a consultant with UNDP, ILO, FAO and various other multilateral...

-The Economic Times It is a matter of great regret that West Bengal chief minister Mamata Banerjee's conduct has converted one incident of rape into a series of offences against human dignity and propriety. The rape took place on February 6, a woman being gang-raped inside a car at gunpoint. She had trouble registering a case. When the police finally obliged, chief minister Mamata Banerjee called it a fabricated case, a political...