RBI asked to regulate entire microfinance sector
India's government has proposed to bring all microfinance institutions operating in the country under the ambit of the Reserve Bank of India (RBI), according to a draft bill released by India's finance ministry on Wednesday.
The RBI currently regulates only those microfinance institutions which are registered with it as non-banking finance companies at the central bank. Although the registered companies cover over 80% of the microfinance business, the number of companies they constitute is a
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