Reportage on a planet without equitable or sustainable development.
MFIs seek a Rs 1,000 crore helpline
The Microfinance Institutions Network (MFIN), a self-regulatory body of a clutch of 44 NBFC MFIs, has asked for Rs 1,000 crore in the form of business continuity facility, an euphemism for emergency money, to ensure survival. In an email to fellow MFIN members, Vijay Mahajan, the president of the NBFC-MFI association, said the loan has been sought from SIDBI, SBI , ICICI and other major banks.“This will be used for tiding over liquidity crisis for any MFI, to obviate default, as well as to permit token disbursements in non-AP states, so that recoveries continue there,” the email, a copy of which is with ET, said.
MFIs come under pressure after the Andhra Pradesh government issued an ordinance last month to regulate the industry’s money lending operations. The complete story, here.
I am an Indian journalist with interests in energy, environment, climate and India’s ongoing slide into right-wing authoritarianism. My book, Despite the State, an examination of pervasive state failure and democratic decay in India, was published by Westland Publications, India, in January 2021. My work has won the Bala Kailasam Memorial Award; the Ramnath Goenka Excellence in Journalism Award; and five Shriram Awards for Excellence in Financial Journalism. Write to me at despitethestate@protonmail.com.
“Westland closure: Titles that are selling fast and a few personal recommendations,” by Chetana Divya Vasudev, Moneycontrol. (Because this happened too. In February, a year after DtS was released, Amazon decided to shutter Westland, which published the book. The announcement saw folks rushing to buy copies of Westland books before stocks run out.)
Fractured/Earth 
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