Reuters news agency has reported that the Andhra Pradesh State Assembly has approved legislation to regulate the microfinance sector. The Assembly ratified an earlier ordinance curbing operations by MFI lenders. The ordinance took effect in October in response to news reports on suicides among borrowers. http://in.reuters.com/article/idINIndia-53571720101215
The Madhya Pradesh Chief Minister recently remarked that the Rajya Sabha should be abolished. This is not a new thought. In 1954 and 1973, resolutions were moved in the Lok Sabha seeking to abolish the Rajya Sabha. Both these resolutions were unsuccessful. Attempts to abolish the Rajya Sabha have also been made by introducing private member bills in the Lok Sabha. These private member bills seeking constitutional amendment were introduced in 1971, 1972, 1975 and 1981. None of these Bills was passed by the Lok Sabha.
