With the demand for microfinance (MF) in the country expected to touch Rs 50,000 crore, experts have recommended that financial standards, ethical norms, transparency and accountability mechanisms will help the MF sector become a part of the formal financial sector in reaching out to the needy.The recommendations were made at a conference on 'Fuelling Systemic Growth through Standards' focussed on the emerging issues of governance, cooperation, competition and developing client perspectives in MF institutions at the Indian Institute of Management, Bangalore, organised by Sa-Dhan, an association of community development financial institutions."The need of the hour is to develop a new framework of discourse for practitioners in the MF sector. The MF sector in India is entering a crucial phase of evolution that is very distinct from the experience of other countries. However, looking at the international experience and appropriating that to our particular context will assist in understanding problems and help identify the interventions required to expand the provision of financial services to the poor in India," pointed out Sa-Dhan's executive director Mathew Titus.According to a study by Sa-Dhan, the MF institutions may achieve a total outstanding portfolio of over Rs 12,800 crore by March 2010. This will imply an addition of Rs 11,709 crore over the outstanding portfolio estimate of Rs 1,095 crore as on March 2005."MFIs need to expand outreach and increase capacity to cope with the demands of the people in need of this service. By building a culture of trust and transparency with mutual accountability, we can take on the tougher challenges that the coming decade will require," Ela Bhatt, chairperson od Sa-Dhan said.