The recent crisis in the micro-Finance industry, brought about by some incidents in Andhra Pradesh, has led to the development of a new concept in the Indian thinking on development — that of “responsible Finance”. Responsible Finance is supposed to mean financial activities by companies that make just about enough returns to stay in business and charge rates of interest on loans to the poor that are only marginally higher than what...

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...

An amendment to the Land Acquisition Act is being formulated to ensure minimum displacement of people and assess compensation on a scientific basis, Finance Secretary Ashok Chawla said on Monday. Speaking at a one-day Infrastructure Financing Conference jointly organised by the High Commission of India and the City of London at Mansion House here, the Finance Secretary said, "The Land Acquisition (Amendment) Bill, 2010, is under preparation, based on the principles...

Given the mind-boggling figures thrown up by the CAG report on the 2G scam, the gains seem rather modest. But in the year gone by, former telecom minister A Raja's Finances have shown a healthy growth with regard to both income and investments. His political career may be headed south, but Raja's Finances are in the pink of health. Not only has his personal income increased from Rs 11.47 lakh to...

Chief minister Arjun Munda is all set to revive the Jharkhand State Planning Board — first formed during his second innings as head of state — to assist his government in drawing up development plans based on scientific assessment of available resources. The move comes close on the heels of the government setting up a three-member panel, headed by noted economist Bibek Debroy, to prepare the state’s development report. Speaking to The...