Microfinance

Report of the Sub-Committee of the Central age of Directors of Reserve edge of India to heal Issues and Concerns in the MFI Sector RESERVE BANK OF INDIA January 2011 1 1.1 first appearance 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 micro pay celestial sphere in so far as they related to the entities set 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) part depository The foothold of reference of the Sub-Committee were as under:1. To polish 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 gear up stamp down recommendations. 2. T o get word the prevalent practices of MFIs in regard to worry rates, lending and recovery practices to identify trends that impinge on borrowers interests. 3. To particularise 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 nark appropriate recommendations in regard to applicability of money lending legislation of the States and early(a) relevant laws to NBFCs/MFIs. 5. To examine the role that associations and bodies of MFIs could get together in enhancing foil disclosure and best practices 6. To recommend 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 relev ant to the terms of The...If you want to ! get a full essay, order it on our website: OrderCustomPaper.com

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