Bangladeshi Nobel laureate Muhammad Yunus has launched a legal battle, one day after he was sacked from the Grameen microfinance bank he founded. Prof Yunus lodged a case in Bangladesh's High Court challenging his dismissal from the Post, lawyers said. The central bank sacked him saying he was past retirement age and had been improperly installed in his Post. Grameen Bank disputes the accusations. He has been under pressure from the government to...

Mizoram Police arrested a Postmaster who was fleeing to neighbouring Myanmar with Rs.13.50 lakh meant to be disbursed for work under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), police said here Monday. The money was deposited with Lalrodinga, 36, a Postmaster at Vaphai branch Post Office in eastern Mizoram, by the rural development department for subsequent disbursement among the MGNREGS workers. 'Lalrodinga Sunday took the money from the Post office...

The children of Khatima village couldn't take it anymore. The headmaster in their government school had been turning up drunk for over five years. That is, when he turned up at all. Last year, they finally took matters into their own hands. Activist Devendra Ojha had held a cartooning workshop with them. The comics produced by the children were photocopied and pasted all over the village: behind rickshaws, near the...

Nobel laureate Muhammad Yunus has been removed as the managing director of Grameen Bank, the organisation he founded in Bangladesh in 1983 to help the poor. The central bank has cited a rule that requires retirement at 60 to order the ouster of the 70-year-old “banker to the poor” who has been embroiled in a Norwegian funds scandal. Yunus had also fallen out with the political establishment after, fresh from the Nobel...

Budgets are no longer statements of accounts or expenditure. In the contemporary context, they are to be seen more as a statement of intent, ambition, reform and politics of inclusion. If these are the parameters on which Budget 2011 is to be judged, it fails despite an implicit statement of intent. For a government which has been elected on the agenda of inclusion, even the statement of intent is not new....