advertisement advertisement Micro-lending website Kiva.org recently hit a major milestone. Since launching four years ago, the organization has facilitated $100 million in microloan transactions between individual lenders and low income entrepreneurs all around the world. Lots of charities target the poor, you may ask, so what makes this organization unique? It’s the approach. In order to achieve its mission of connecting people through lending for the sake of alleviating poverty, Kiva employs a strategy of inclusion. It turns what was once an opaque process in both lending and charitable giving on its head, creating greater levels of personal involvement and future commitment. A few weeks ago Kiva founder Premal Shah described this process to an audience of thousands at the 2009 Women’s Conference, saying: “When you give to big organizations, you don’t know where your money is going. Here you do. There are short feedback loops and direct … [Read more...] about Web-based World Change
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Varsha PillaiIrony is perhaps the best way to describe the country that is India. We are after all poised to be country that will reap the demographic dividend that is set to drive the economy towards the $1 trillion benchmark, we are also the country that recently planned the mission to the moon and we are also the country that today ranks a dubious 102 in the Global Hunger Index (GHI) table out of 117 nations, way behind our neighbours — Pakistan (94), Bangladesh (88) and Sri Lanka (66).Even among the BRICS members, India fares the worst, China is ranked 25. The report also states that only 9.6 per cent of children in India between the ages of six months to around two years are fed ‘minimum acceptable diet’ which includes a combination of minimum dietary frequency along with dietary diversity. The GHI, released by Welthungerhilfe and Concern Worldwide, is based on four key indicators, which broadly includes undernourishment, child wasting, child stunting and child … [Read more...] about Policy | Don’t waste the childhood of India’s children
Amol AgrawalThe Reserve Bank’s October 2019 policy review saw a senior journalist questioning to the Governor on the ongoing crisis in the NBFC sector and the recent failure of Punjab and Maharashtra Cooperative Bank (PMC).To this, the Governor said, “The points which you mentioned about the banking sector or cooperative banks or NBFCs, this is not within the purview of the MPC (Monetary Policy Committee). So, the MPC does not discuss these issues.”Close The RBI chief then went on to assure the house that the banking regulator has acted swiftly to resolve the ongoing troubles and one should not pay attention to rumours.Moneycontrol ContributorContributor|Moneycontrol News Rs 25K crore realty stress fund: Speedy, effective implementation would be keySC telecom verdict sends signal to companies that they cannot avoid paying government duesMountain of NPAs? Blame it on inter-corporate loansOne was startled to note that the MPC did not discuss the most troublesome issues … [Read more...] about Financial stability | RBI must reorient its goals and communication
Amol AgrawalThe Reserve Bank of India (RBI) on November 1, 2019, announced reorganisation of the supervision and regulation department into a “unified Department of Regulation”.In an earlier article (October 21, 2019), I had argued why and how the RBI needs to reorganise its finance function under one deputy governor and allocate all related responsibilities (regulation, supervision and stability) to this one position. It is not very often that you see the central bank pays attention to your article and acts on the same. I am obviously kidding and it is just nice to note that my thinking was on similar lines as that of the RBI.Close Until now, the central bank had six departments for supervision and regulation of three entities: banks, non-banks and cooperatives. The two broad roles of regulation and supervision were also divided across two deputy governors. related news RBI to come under direct scrutiny of Centre, new Parliament proposal suggests: Report RBI to … [Read more...] about Regulation and supervision: RBI hits the nail on the head
The first iPhone worm is spreading around Australia, changing users’ wallpaper to a picture of ’80s pop star Rick Astley, the mobile version of getting Rickrolled. It’s mostly harmless, but is it a signal that virus makers will soon worm their way into your iPhone? Not if you play by Apple’s rules. The worm only affects jail-broken iPhones–those whose users have set their phones to run unauthorized software such as tethering programs or hacks that allow them to customize settings and download apps from third-party app stores such as Cydia or Rock Your Phone. The BBC reported Monday morning that the worm’s creator, 21-year-old Australian Ashley Towns made the bug to raise the issue of security. He’s clearly not a fan of jailbreaking, and in the source code, Towns wrote: “People are stupid and this is to prove it.” It’s estimated that no more than 10% of iPhones and iPod Touch are jail-broken in the U.S. and U.K., but the … [Read more...] about Is Mobile Rickrolling the First Step in an iPhone Virus Outbreak?