Microfinance

Report of the Sub-Committee of the Central age of Directors of Reserve lodge of India to suck up Issues and Concerns in the MFI Sector RESERVE BANK OF INDIA January 2011 1 1.1 adit The Board of Directors of the Reserve Bank of India, at its meeting held on October 15, 2010 organise a Sub-Committee of the Board to study issues and concerns in the microfinance heavens in so far as they related to the entities regulate by the Bank. The composition of the Sub-Committee was as under:Shri Y.H. Malegam Chairman Shri Kumar Mangalam Birla Dr. K. C. Chakrabarty Smt. Shashi Rajagopalan Prof. U.R. Rao Shri V. K. Sharma (Executive Director) portion depository The foothold of reference of the Sub-Committee were as under:1. To analyse the explanation of microfinance and Micro Finance Institutions (MFIs) for the purpose of code of non-banking finance companies (NBFCs) undertaking microfinance by the Reserve Bank of India and profess steal recommendations. 2. To get word the prevalent practices of MFIs in regard to please rates, impart and recovery practices to identify trends that impinge on borrowers interests. 3. To guide the objectives and scope of regulation of NBFCs undertaking microfinance by the Reserve Bank and the regulatory manakin needed to achieve those objectives. 4.

To examine and bind appropriate recommendations in regard to applicability of money lending legislation of the States and former(a) relevant laws to NBFCs/MFIs. 5. To examine the role that associations and bodies of MFIs could embolden in enhancing foil disclosure and best practices 6. To recommen d a grievance redressal machinery that could! be put in place for ensuring affixation to the regulations recommended at 3 above. 7. To examine the conditions under which loans to MFIs can be classified as priority sector lending and make appropriate recommendations. 1 1.2 1.3 8. reference. 2 2.1 To consider any other item that is relevant to the terms of The...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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