Microfinance Bill Sends Confusing Messages
Thursday, May 3, 2007
A move to review and regulate when and how microfinance providers should be allowed to accept savings deposits is picking up speed.
In a bid to police the booming sector, finance minister P. Chidambaram introduced a Bill to regulate small micro-credit institutions through the National Bank for Agriculture and Rural Development (Nabard) requiring them to meet more stringent accounting standards.
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