Author: Shradhanjali Mukherjee

Microfinance Institutions (MFIs) have seen a 43% increase in average loan disbursal amounts over three years, rising from $406.47 to $580.67, as per IIFL Capital’s Financial Stability Report. However, concerns remain regarding borrower delinquencies, particularly for those with multiple loans or significant credit exposure. Nearly half of unsecured loan borrowers also carry a live retail loan, frequently a high-value one. During FY23, 11% of borrowers with personal loans exceeding $580.67 had overdue payments, and over 60% had taken out more than three loans. By Q2 FY25, nearly 60% of personal loan recipients had multiple active loans at origination, adding to…

Sudha Setty, an Indian-American legal scholar and the current dean of the City University of New York (CUNY) School of Law, has been named the new president and CEO of the Law School Admission Council (LSAC), effective July 1. Setty succeeds Kellye Testy, who left LSAC to become the executive director and CEO of the Association of American Law Schools. In her statement, Setty expressed honor at being selected for the role, noting that LSAC’s work in expanding access to legal education is more crucial than ever. She emphasized the importance of collaboration in addressing key challenges facing law schools,…

Shekar Krishnan, the first Indian-American elected to the New York City Council, took office on January 1, 2022, and was re-elected in November 2023. Representing District 25, which includes Jackson Heights, Elmhurst, and Woodside in Queens, he serves some of the most diverse immigrant communities globally. In an insightful conversation with Ishani Duttagupta from the Times of India, Krishnan reflected on his role as a former civil rights lawyer and community activist. He also addressed key issues affecting Indian Americans in his district and voiced concerns about the increasing hate speech and online bigotry targeting the community. Krishnan expressed immense…

IndiaAI, a division under Digital India Corporation, has formed a strategic partnership with Microsoft through a Memorandum of Understanding (MoU) to accelerate the adoption and development of artificial intelligence (AI) in India. The initiative aims to support the goals of the IndiaAI Mission, enhancing the country’s AI capabilities. As part of the agreement, Microsoft will assist IndiaAI in training 500,000 people, including students, educators, developers, government officials, and women entrepreneurs, by 2026. This collaboration will also focus on establishing AI Catalysts in Tier II and III cities, helping to develop 100,000 AI innovators and developers through hackathons and a dedicated…

Microsoft Corp. is set to invest $3 billion in India, aiming to strengthen the country’s artificial intelligence (AI) capabilities and expand its Azure cloud-computing business, as confirmed by CEO Satya Nadella on January 7, 2025. This investment marks the company’s largest expansion in India to date. Nadella expressed excitement about this significant investment, stating, “We are thrilled to announce our largest expansion ever in India, with an additional $3 billion to enhance our Azure cloud capacity.” He also pointed out that Microsoft is focusing heavily on regional expansion within India. The tech giant has ambitious plans to help build India’s…

Prime Minister Narendra Modi highlighted India’s growing aspirations and the increasing demand for swift long-distance travel, stating that the introduction of high-speed trains is a key response. He emphasized that the arrival of India’s first bullet train is imminent, adding that the government is taking major strides in improving the nation’s transportation infrastructure. During the virtual inauguration of multiple projects, including the formation of Jammu’s new railway division, Modi referred to the creation of Jammu division as a “monumental step,” marking it as the 70th railway division in the country. This coincides with the inauguration of the Katra-Reasi railway section…

The Mahakumbh 2025 in Prayagraj, set to begin on January 13 and conclude on February 26, is drawing devotees and spiritual seekers from across the globe. Among them is Angela, an Italian devotee who embraced Hinduism 30 years ago. Now known as Anjana Giri, a member of Atal Akhada, she reflects her devotion through her spiritual practices and advocacy for Sanatan Dharma. Currently, she is weaving a special bag for her Guruji, which will be used during the grand Maha Kumbh Mela. “The ancient culture of India is the best. This philosophy of living says that you are God, and…

External Affairs Minister S. Jaishankar reiterated India’s continuous commitment to the Maldives’ development in alignment with India’s Neighbourhood First policy and the SAGAR vision. Jaishankar shared on X that during his meeting with Maldives Foreign Minister Abdulla Khaleel, both countries signed agreements for the next phase of High Impact Community Development Projects (HICDP). These initiatives aim to support the Maldives’ growth and enhance bilateral cooperation. The minister emphasized, “India will remain a steadfast partner in the Maldives’ progress and prosperity,” highlighting India’s broader vision for the region. India’s Neighbourhood First policy prioritizes strengthening relations with neighboring countries by boosting connectivity,…

On Wednesday, Prime Minister Narendra Modi announced that the government’s first action in the New Year focuses on benefiting farmers. The Union Cabinet, led by Modi, has decided to increase the funding for the crop insurance scheme and raise the subsidy for a vital fertiliser. This decision comes as part of the government’s efforts to enhance the security of farmers’ crops, reducing their concerns about potential damages. The government approved an extension of the Pradhan Mantri Fasal Bima Yojana and the Restructured Weather-Based Crop Insurance Scheme for the years 2021-2026, with an overall funding allocation of $8.3 billion. This extended…

Anand Mahindra, Chairman of the Mahindra Group, shared his optimistic vision for India’s future, stating that the country has the potential to significantly enhance its economic influence and solidify its position as a crucial participant in the global supply chain. He emphasized that India is “well-equipped to thrive independently” and pointed out the nation’s advantages amidst the evolving global alliances. Speaking to employees in his New Year address, Mahindra acknowledged the increasingly transactional nature of international relations, which are now shaped more by national interests and power dynamics. Reflecting on the upheavals and transformations of recent years, he stated, “We…