Fearing a default from Andhra Pradesh-based microfinance institutions (MFIs), whose cash flows have been disrupted by new laws, lenders have asked RBI to ensure stability by bringing the sector under its purview. In a meeting called by the Reserve Bank to discuss funding of MFIs, it asked banks whether the institutions were repaying loans on time and if the end-borrower was suffering because of the credit crunch faced by them. RBI...

Prime Minister Manmohan Singh has assured a delegation of TDP-Left parties combine that he would look into the issue of alleged suicide by farmers in Andhra Pradesh who were severely affected in the unprecedented rains and cyclonic storm in the last few months in the State. The delegation highlighted the plight of farmers who were hit as their produce like paddy, cotton, tobacco, red gram, chillies and oil seeds were damaged/discoloured...

While children are dying of malnutrition, our leaders are busy comforting the corporate sector   This week’s show of ‘Walk the Talk’ by Shekhar Gupta was the third in a series of episodes that seemed to be dedicated to bringing forth the corporate viewpoint to counter the current environment of mistrust, post Radiagate. While the first two were with Ratan Tata and Deepak Parekh, obvious corporate representatives, it is telling that as...

A direct outcome of the global economic crisis has been a decline in the rate of growth of wages across the world, barring Asia and Latin America. A study by the International Labour Organisation, Global Wage Report 2010-11: Wage policies in times of crisis, highlights this reality and points to the need for countries to put in place proper social and labour market policies to protect an increasingly vulnerable workforce....

75 farmers have lost their lives in Andhra Pradesh The Communist Party of India on Monday asked the Centre to declare the loss of standing and harvested crops over 75 lakh acres across three States – Andhra Pradesh, Orissa and Tamil Nadu – as a national calamity and announce compensation for it. CPI general secretary A.B. Bardhan, in a letter to Prime Minister Manmohan Singh, drew attention to the huge loss suffered...