Needed, a ‘self-regulatory organisation’ for MFIs

.....A self-regulatory organisation for microfinance institutions will play a complementary role to the Reserve Bank of India, according to a top industry official. “The microfinance industry is highly distributed and has many small players. The RBI has limited presence on the ground,” said Alok Prasad, CEO, Microfinance Institutions Network (MFIN), an umbrella body of over 40 microfinance companies in the country..............

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