Microfinance Bill faces fresh roadblocks

.....The effort to formulate a national regulation on microfinance began in 2007 but it lapsed due to this lack of consensus. Last year, the government revised the Bill after consultations with microfinance industry officials and the Reserve Bank of India (RBI). The proposed Microfinance Institutions (Development and Regulation) Bill is expected to supersede all state-level regulations, including the controversial Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Act, 2010.
The Bill includes a provision that allows MFIs to collect small savings from SHGs known as thrift........

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