Dual regulation is bad

MFI issues won't be solved by state regulation

One of the promises made by both major political parties in the recently concluded Assam legislative assembly elections was the waiver, in part or full, of the outstanding loans or remaining interest due to microfinance institutions (MFIs). The new cabinet of Chief Minister Himanta Biswa Sarma has moved swiftly to fulfil this promise, setting up a committee that is to report in a month on how to deal with the MFIs in the state. The previous government had already passed a Bill to regulate MFIs within Assam this January. In a meeting with stakeholders convened by the new government recently,