Informal finance and rural finance policy in India: historical and contemporary perspectives

From the 1950s up to the early 1990s the All-India data show an ever-declining share of informal credit in the total outstanding debt of rural households. Contemporaneous micro-level studies, using more qualitative research methodologies, provide evidence that questions the strength of this trend, and more recent All-India credit surveys show, first, a levelling, and then a rise, in the share of rural informal credit in 1990/91 and 2000/01, respectively. By reference to findings of a study of village moneylenders in Rajasthan, the paper notes lessons to be drawn. First, informal financial agents have not disappeared from the rural financial landscape in India. Second, formal-sector financial institutions can learn much about rural financial service needs from the financial products and processes of their informal counterparts. Third, a national survey of informal agents, similar to that of the 1921 Census survey of indigenous bankers and moneylenders, would provide valuable pointers towards policy options for the sector. A recent Reserve Bank of India Report on Moneylender Legislation not only explores incentive mechanisms to better ensure fair practice, but also proposes provision for a new category of loan providers that would explicitly link the rural informal and formal financial sectors.

An ancient pollinator of a contemporary plant (Cyclamen persicum): When pollination syndromes break down

Pollination of Cyclamen persicum (Primulaceae) was studied in two wild populations in Israel. Buzz-pollination proved to be extremely rare, and performed by a large Anthophora bee only. The most frequent pollinators were various unspecialized species of thrips (Thysanoptera) and hoverflies (Syrphidae). In the Winter-flowering populations the commonest visitor was a small primitive moth, Micropteris elegans (Micropterigidae, Lepidoptera). These moths feed on pollen, copulate and oviposit within the flowers. From the rarity of buzz-pollination it is concluded that the genus Cyclamen co-evolved with large bees capable of buzz-pollination, but lost its original pollinators for unknown historical reasons. The vacant niche was then open to various unspecialized pollen consumers such as thrips, hoverflies and small solitary bees. While these insects are not specific to C. persicum and seem to play a minor role only, the moth strictly relies upon Cyclamen and seems to be the most efficient pollinator.

'Public Sculpture (The Social)' 2010

Commisssioned by Frieze Art for the Frieze Sculpture Park The project presents the image of a sculpture as a sculpture, installed in the form of a large scale digital print on vinyl stretched over a 14 x 28ft (4.2 x 8.4m) stretcher supported by a scaffolding structure. The image itself depicts a futuristic public sculpture, an ‘impossible’ artwork, referencing Ballard’s descriptions in his book ‘Vermillion Sands’. The work also draws upon examples of rococo ornamentation and the compositional conventions of ‘images of sculpture’ (in art magazines, catalogues, publicity photos) including examples sited in Regents park in previous years. Technical details: The image is printed on vinyl, stretched over a 14 x 28ft (4.2 x 8.4m) wooden stretcher and fixed to a deep buttressed scaffold 8m long by 6.23 deep with IBC water tanks on the back edge as kentledge (4 x I tonne IVC water containers - 1 per bay). The structure is constructed from clean silver Layher system scaffold and wrapped by a dense black mesh netting.