A well-functioning and resilient financial system needs a good mix of institutions that collectively meet the financial intermediation needs of the country, be it individuals, households, businesses, sectors and local governments, while simultaneously enhancing the stability of the system as a whole.
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As per IRDAI (Micro Insurance) Regulations, 2015, the microinsurance business is exempted from customised benefit illustration6 and disclosure norms prescribed in IRDA (Linked and Non-Linked Insurance Products) Regulations. IRDAI’s latest circular on this continues to extend this exemption.
Response to the rescue package announced by Finance Minister on May 13th, 2020
India has relied on banks to drive its financial inclusion efforts. However, the high levels of NPAs in banks’ balance sheets has forced them to cut back on lending, adversely affecting the financial inclusion agenda.
The Reserve Bank of India (RBI) has permitted banks and non-banking finance companies (NBFCs) to reschedule payments on all loans for the period between March and May 2020 to stem the impact of the covid-9 pandemic.
Cash withdrawals through micro ATMs have surged in the wake of covid-related disruptions in the operations of banks and business correspondents. But a considerable number of these transactions fail, thus worsening the pain of the vulnerable sections.
The provisions for insolvency, bankruptcy and fresh start for natural persons as contained in the Insolvency and Bankruptcy Code (IBC) 2016 are expected to shift the paradigm of the Indian consumer credit market.
Analysing the performance of Pradhan Mantri Mudra Yojana
On the December 2019 Financial Stability Report released by the Reserve Bank of India.
The study found a set of issues that were common across all origination models, a smaller set of issues that were specific to certain institution- or product-types, and a set of issues with distribution channel design and incentive design.
Part two in our two-part blog series on Improving Outcomes for the Financial System through Credit Rating Agencies
In all our research efforts, we strive to maintain an independent voice that speaks for the low-income household and household enterprises. Our ability to perform this function is significantly enhanced by our commitment to disseminate as a pure public good, all the intellectual capital that we create.
