‘State should be part of MFI regulation’

Pointing out to challenges in regulation of micro finance institutions (MFIs), Former Deputy Governor of RBI Usha Thorat said the task will be difficult and would require assistance of state governments. On decentralisation of the regulation she said, “States have a better reach to the MFIs which operate across boundaries. Hence, they should be made a part of the regulation process,” while speaking on the sidelines of an event in Mumbai today.”

BS