-The Hindu Business Line Roy tracks how microfinance, despite its blemishes, has empowered the unbanked in the country For the poor in rural India, till not very long ago, credit meant the unscrupulous mahajans who roamed the villages with wads of cash. Dime a dozen Bollywood movies had depicted the wily moneylender who not just ripped off the hapless creditors, but who was also cruel enough to grab their movable and immovable...
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Monthly income per farm household grew between NSSO & NABARD surveys, but so has the level of outstanding loans
A recent report by the National Bank for Agriculture and Rural Development (NABARD) enlightens one about the state of farmers' income and indebtedness in 2015-16. Entitled NABARD All India Rural Financial Inclusion Survey 2016-17 – in short NAFIS 2016-17 – the report says that between 2012-13 and 2015-16 the average monthly income for agricultural households grew by around 39 percent. One may recall that the Key Indicators of Situation Assessment Survey...
More »How Many Jobs Are Really Being Created by the Modi Govt's Mudra Scheme? -Noor Mohammad
-TheWire.in Figures highlighted in an RTI reply cut to the heart of a debate over the government’s assertion to count Mudra loan beneficiaries as employed. New Delhi: Struggling to deliver on the poll promise to create one crore jobs a year, the Narendra Modi government and the BJP may have found a face-saver in the flagship self-employment Mudra scheme, launched under the Pradhan Mantri Mudra Yojana (PMMY) in 2015. However, three years in,...
More »Why microfinance is fading out -M Sureshbabu and Arun Kumar Gopalaswamy
-The Hindu Business Line MFIs are unable to address the needs of self-help groups. They have been hit by the falling growth of SHGs There has been a long-standing debate on the ability and effectiveness of the formal banking system as a vehicle for financial inclusion. The thrust has been to increase the number of small banks, as they play a very important role in the supply of credit to small business...
More »Ending the debt-suicide cycle in Telangana -B Yerram Raju
-The Hindu Business Line Recently, the Telangana Agricultural Advisory Forum, consisting of a few university professors and scientists, deliberated on the causes and consequences of the drought and farmer ‘suicides’ in the State. The unofficial number of suicides attributed to farm families is 1,152. An inquiry into some of the recent suicides reveals an interesting picture. The farmers were not indebted to cooperative credit societies or commercial banks. The case of a...
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