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No cap on MFI interest rates by Shishir Arya

Amidst hue and cry over micro-finance institutions (MFIs) charging the rural poor exorbitant interest rates, Reserve Bank of India norms continue to allow these entities a free hand in determining their charges. The banks lending to MFIs too continue to have full discretion in fixing their rate of interest. RBI has issued a latest master circular reiterating its earlier stand on...

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Noted jurists express dismay at Prime Minister’s NREGA statement

Say there is no way the workers can be paid less than the minimum wages Open Statement on Prime Minister’s Assertion that the NREGA Wage Rate is ‘Delinked’ from the Minimum Wages Act We the undersigned are shocked at the Prime Minister’s statement in a letter to the Chairperson of the National Advisory Council that ‘statutorily the wage rate under NREGA...

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India's numbers

The world's second largest national headcount operation, the Census of India, is significant for several reasons. The largest peace-time administrative activity of the Indian state is also the third since economic liberalisation was initiated. Three decades is enough time for a nation to assess the economic impact and implications of a change in macroeconomic policies, and hence Census 2011 should...

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Army promises maximum restraint in Abhujmaadh by Supriya Sharma

The chief of the army's central command surveyed Abhujmaadh forests from the air and then landed in Raipur to allay anxieties over a potential conflict escalation in the Maoist controlled forest in Chhattisgarh's Narayanpur district where the army plans to train its troops. "We will exercise maximum restraint. This is our country, they are our people," said Lieutenant General Vijay Ahluwalia,...

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Bihar as model? UID rollout within 3 years by Mahendra Kumar Singh

Bihar will roll out unique identification numbers for "aam aadmi" -- beneficiaries of social sector schemes -- within 35-36 months. The move will help in curbing pilferage and corruption. The decision was taken at a meeting of Planning Commission deputy chairman Montek Singh Ahluwalia with Bihar chief minister Nitish Kumar. The Commission has finalised Rs 24,000 crore plan size for the...

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