Tight liquidity continues; rise in bank rates likely for such lending. The Andhra Pradesh government will take some time to reply in the High Court to the petitions filed against the Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Ordinance, issued last month. The Microfinance Institutions Network (MFIN), SKS Micro Finance and Spandana Sphoorty Financial have filed petitions saying the ordinance threatens to disrupt their business. The government sought an extension after...

The Congress-led United Progressive Alliance government is considering changes to the Right to Information (RTI) Act to keep the chief justice of the Supreme Court out of its ambit, prompting protests against the move by those who see it as a dilution of the law. “The proposal includes...safeguarding the sensitivity of the office of the chief justice of India,” Prithviraj Chavan, outgoing minister of state for personnel, public grievances and pensions,...

Justice Soumitra Sen may be making history as only the second judge on his way to impeachment but he still enjoys a big salary. Despite being indicted many times for corruption, the judge has comfortably managed to exploit the loopholes in the system. Excluding allowances and perks for fuel, attendants, house rent, phone and medical bills, Justice Sen's salary today stands at Rs. 80,000 per month. That means roughly Rs. 160,000...

A court in India has given life sentences to 44 Marxist supporters for killing 11 landless farmers supporting a rival party 10 years ago. The farmers were supporters of the state of West Bengal's opposition Trinamul Congress party. The 44 supporters of the Communist Party of India - Marxist (CPI-M) were convicted of murder and rioting. The convicted include CPI-M senior leaders Mohan Sheikh and Gopal Majhi and two senior rural body members. A...

Provoked by the reiteration by Supreme Court of its offer to drop the contempt charge against Prashant Bhushan if he apologised for levelling allegations of corruption against the judiciary provoked his father Shanti Bhushan on Wednesday to repeat the contemptuous charges. He would rather go to jail than seek apology, declared Bhushan senior, former Union law minister. The senior Bhushan spoke out of turn, brushing aside repeated requests from a Bench...