The Indian government on Tuesday introduced a bill in the Lok Sabha to empower the Reserve Bank of India (RBI) to regulate the micro finance institutions (MFIs) and fix interest rates ceiling on loans to be provided by lenders, reports PTI. The Micro Finance Institutions (Development and Regulation) Bill, 2012, which was introduced in the House by Finance Minister Pranab Mukherjee, confers power upon the RBI to fix the maximum interest rates that MFIs can charge and also decide on the fair and reasonable method of loan recovery......................
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