Microfinance still key to inclusion despite flaws – RBI deputy
Excessive debt and “coercive recovery practices” demand reform, says Rajeshwar Rao
Microfinance remains “one of most important financial tools to foster financial inclusion”, but recent developments call for urgent reform, the Reserve Bank of India’s Rajeshwar Rao said in a speech today (October 27).
The sector has changed greatly since the RBI started to embrace microfinance institutions (MFIs) in the 1990s, the deputy governor said. Only non-bank MFIs are covered by current regulations, but other lenders such as small finance banks have grown up in recent years, coming to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial inclusion
New measurement shows ‘historically high’ Canadian financial stress
Financial fragility is concentrated among renters and some mortgage holders, paper says
AI threatens labour’s share of income, research finds
AI could increase inequality and social unrest, Philadelphia Fed paper argues
Global Money Week aims for better money sense
OECD event aimed at boosting financial literacy receives attention in central and eastern Europe
Unconscious bias ‘blights female economists’ career prospects’
Bank of Italy study examines impact of referral letters for male and female job candidates
Singapore and Ghana aim to improve MSME finance
Project aims to create “universal trusted credentials” to assess smaller firms’ creditworthiness
Immigration decline hurts growth and inflation prospects – Fed research
Dallas Fed VP says “absolutely” a link between low immigration and rising inflation
Bank Negara Malaysia commits to improve financial inclusion
BNM says the pandemic has eroded many people’s financial buffers
Gender equality is key to sustainable development
Bank of Zambia’s Rekha Mhango sets out central bank’s strategy on financial inclusion
Most read
- ECB staff speak out against changes to internal survey
- Central bank of the year: Central Bank of Brazil
- BIS’s Zhang Tao on why Asian central banks favour a broader policy mix