In the first week of February, while announcing the last monetary policy of the financial year, the Reserve Bank of India (RBI) pitched for a uniform regulatory framework for all lenders in the microfinance space.
What’s the provocation for this? Micro lending is no longer the turf of only the microfinance institutions (MFIs), which had primarily been the case a decade back when a southern state almost dug its grave by promulgating a state law (in October 2010) to curb the alleged excesses done by the industry. Following the recommendations of a committee, headed by noted chartered accountant and the longest
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