By Moin Qazi* Microfinance – an approach to financial inclusion based on providing small denomination loans and other financial services to poor people who lack the collateral, credit history, or other assets -has generated considerable enthusiasm, not just in the development community but also at political levels. It has infused an entrepreneurial spirit in tiny entrepreneurs like clay-brick makers, seamstresses, and vegetable sellers. Microfinance continues to thrive despite being under fire from legions of critics. One plausible reason for the lingering faith in the power of microfinance is that it provides a convenient strategy for investors to demonstrate that they are active fighters against poverty and are trying to save the poor while making a substantial amount of money from them. It is built on a false belief that credit is the most vital need of the marginalized. One of those who have thoroughly studied the phenomenon, Thomas Dichter, says the idea that microfinance allows i

By Rohit Prajapati and Krishnakant* The Japanese Government’s investment agency, the Japan International Cooperation Agency (JICA) is signatory to the Memorandum of Understanding (MoU) with the Indian Government for the Mumbai-Ahmedabad High-Speed Rail Project (MAHSR), popularly known as the ‘Bullet Train Project’. There are two sets of government norms that the ‘Bullet Train Project’ has to adhere to: one, as per the Indian laws and second, as per the JICA Guideline of the Japanese Government. The JICA Guidelines, April 2010, make clear the principles and procedures, repeatedly stressing on environmental and social impacts, which must be followed for ensuring assistance in the form of technical cooperation, loan, or grant aid for projects that are applicable to the MAHSR – the Bullet Train Project. While the final responsibility for environmental and social considerations for projects lies with the project proponents, host country governments including local governments, borrowers, et

By Venkatesh Nayak* Readers may recollect my despatch from June 2018 about the refusal of the State Bank of India (SBI) to disclose under The Right to Information Act, 2005 (RTI Act) information about the buyers of Electoral Bonds (EBs) and political parties which received them. The Central Public Information Officer (CPIO) denied information about buyers and the denominations of EBs they purchased, saying that compiling such information would lead to disproportionate diversion of the Bank’s resources. He also decided that all reports sent to the Central Government about the sale and purchase of EBs were in “fiduciary capacity” and could not be disclosed under Section 8(1)(e) of the RTI Act. SBI’s CPIO provided only denomination-wise figures for the sale of EBs through the designated branches. Even this data did not match with the data the same CPIO had earlier supplied to Mr. Rakesh Reddy Dubbudu, of Factly.in and one of my fellow Co-Convenors of the National Campaign for People’s R

By Moin Qazi* 15th August is the most cherished date in the Indian calendar .it was on this momentous day, more than seven decades back, that we were born an independent and free country. Mahatma Gandhi’s luminous leadership finally made the British Quit India in 1947. It is certainly an occasion for celebration. More than that, it is a point in a nation’s journey when we need to introspect and evaluate whether we have been able to realize the dream of our Father of the Nation who guided the nation’s journey of liberation from colonialism .We must remember that Gandhiji had proclaimed that true freedom will be one where every Indian is able to live a life free of hunger and destitution. As the great philosopher Voltaire said, “The poor man is never free; he serves in every country.” Gandhiji himself emphasised several times that his mission in life was to wipe every tear from every eye. In his famous ’Tryst with Destiny‘ speech, broadcast on the radio at the midnight hour of India’s bi

By Venkatesh Nayak* Readers may recall recent media reports about the latest amendment made to the Jammu and Kashmir Public Safety Act, 1978 (J&KPSA) by HE the Governor of Jammu & Kashmir (J&K). Prior to this amendment no permanent resident of J&K who was detained under this law could be lodged in a jail outside the State. The erstwhile proviso underlying Section 10 of J&KPSA read as follows: “Provided that the detenues who are permanent residents of the State shall not be lodged in jails outside the State.” The latest amendment notified on 13th July, 2018 removes the prohibition on lodging of such detenues in jails outside J&K. Official justification for the latest amendment not issued despite the statutory requirements under the J&K RTI Act The J&K Government has not yet placed in the public domain detailed reasons, facts and materials that form the basis of this amendment despite the following statutory obligations of transparency under The J&K