Independent Research and Policy Advocacy

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Independent Research and Policy Advocacy

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Response to the Draft Micro Finance Institutions (Regulations and Development) Bill 2011

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Abstract

1. The Draft Micro Finance Institutions (Regulations and Development) Bill 2011 (the Bill) seeks to cover all entities engaged in ‘microfinance activities’ under a single regulator (the Reserve Bank of India) and prescribes various rules for such institutions.

2. It may be noted that under the current regulatory architecture, RBI governs both Banks and Non-Bank Finance Companies (NBFC). Specifically in microfinance, legal forms outside these two such as Trusts, Societies, Self-Help Groups and Section 25 Companies have been permitted to offer loans upto Rs. 50,000 as per the RBI Master Circular on Micro-Credit2 .

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Financial Systems Design

Financial Systems Design

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Regulatory and Supervisory Frameworks

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