Direct Benefit Transfers for Women, The Glue that Keeps Democracies Going, A Last Chance to Revive Urban Governance, and Dealing with Our Hardware Insecurities
What explains the current stress in micro finance industry when the govt is increasing handouts to the poor especially to women as your piece illustrates
Is there any credible example of any success-story of the micro-finance industry anywhere in the world?
A decade and a half back, the Grameen-bank of Yunus was considered a success story. I'm unsure whether it was a real success story or a concocted narrative.
I know, secondhand, that a European financial company operating out of West Bengal gave strict instructions on not getting into any kind of micro-financing space. This was around 2010 and I was chatting with my friend who was an employee of that European company. I was taken aback because Yunus' Grameen Bank and the rural Bangladeshi women, their accountability groups that worked on public shame/dignity, and their prosperity raining Cows were the talk of many magazines and newspapers. Looking at my surprise my friend told me that he does not know what worked or did not work in Bangladesh. But in India, in places like Andhra, there were huge losses in the microfinancing space. And hence the instruction from their European headquarters.
(PS: I know that my story may sound as credible as Kaushik Basu's cab drivers, but I cannot reveal the name of the company for the sake of my friend).
So revdi/bribe/alms(bheekh) to voters, and voters acknowledging the same with a vote is an established practice now. Across states. Now across the nation. And who is to be blamed for this? Not Mamata for Lokkhir Bhandar. Not Chauhan for ladli behen. Not Fadnavis for majha ladki/ladka bahin/bhau yojana in Maharashtra. Not Rahul for proposing NYAY. Not Modi for backtracking after deriding MNREGA in the parliament. All these people are politicians with the prime motive of getting power. They are NOT to be blamed.
The blame lies with we the voters. Most of us think of Robinhood (or actions like his) as a hero. The truth is that Robinhood is a criminal deserving punishment for looting private property. But the truth is not a popular opinion. Hence we are getting a proliferation of DBT schemes. This is sick.
For many, this is some sort of good with lots of positive externalities. But for some, the primary premise of these DBT schemes is sick. The premise of 'Robbing Nandan to pay Nandu'. If you believe this is a sick premise, what is one small step to stop this wrong (apart from ranting on the internet, which I am doing now)?
What explains the current stress in micro finance industry when the govt is increasing handouts to the poor especially to women as your piece illustrates
Is there any credible example of any success-story of the micro-finance industry anywhere in the world?
A decade and a half back, the Grameen-bank of Yunus was considered a success story. I'm unsure whether it was a real success story or a concocted narrative.
I know, secondhand, that a European financial company operating out of West Bengal gave strict instructions on not getting into any kind of micro-financing space. This was around 2010 and I was chatting with my friend who was an employee of that European company. I was taken aback because Yunus' Grameen Bank and the rural Bangladeshi women, their accountability groups that worked on public shame/dignity, and their prosperity raining Cows were the talk of many magazines and newspapers. Looking at my surprise my friend told me that he does not know what worked or did not work in Bangladesh. But in India, in places like Andhra, there were huge losses in the microfinancing space. And hence the instruction from their European headquarters.
(PS: I know that my story may sound as credible as Kaushik Basu's cab drivers, but I cannot reveal the name of the company for the sake of my friend).
Context: Dear Sisters by RSJ
So revdi/bribe/alms(bheekh) to voters, and voters acknowledging the same with a vote is an established practice now. Across states. Now across the nation. And who is to be blamed for this? Not Mamata for Lokkhir Bhandar. Not Chauhan for ladli behen. Not Fadnavis for majha ladki/ladka bahin/bhau yojana in Maharashtra. Not Rahul for proposing NYAY. Not Modi for backtracking after deriding MNREGA in the parliament. All these people are politicians with the prime motive of getting power. They are NOT to be blamed.
The blame lies with we the voters. Most of us think of Robinhood (or actions like his) as a hero. The truth is that Robinhood is a criminal deserving punishment for looting private property. But the truth is not a popular opinion. Hence we are getting a proliferation of DBT schemes. This is sick.
For many, this is some sort of good with lots of positive externalities. But for some, the primary premise of these DBT schemes is sick. The premise of 'Robbing Nandan to pay Nandu'. If you believe this is a sick premise, what is one small step to stop this wrong (apart from ranting on the internet, which I am doing now)?