micro finance

‘Micro fin players extending credit only to rural poor’

fe Bureaus
Posted: Wednesday, Nov 12, 2008 at 2350 hrs IST
Updated: Wednesday, Nov 12, 2008 at 2350 hrs IST

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New Delhi, Nov 11: by trusts, societies and cooperatives are outside regulatory coverage,’ the report said. It suggested besides the new micro finance Bill, effort should be on unifying, improving and consolidating the present regulatory framework and apply it across all MFIs without any form-related distinctions on prudential norms.

The report also states that savings has been an aspect of micro-finance service that has by and large been left to the working of SHGs. “The MFIs neither actively pursue this nor those who pursue do so in a manner designed to produce best results,” it said. It also commented that micro insurance despite potential has a long way to traverse.

“Clients despite becoming large in numbers are still in the fringes of the sector,” the report said....

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