......microfinance institutions in the country have hardly been regulated, and some of them charge high interest rates. Since there is a need to regulate such institutions, the Government should introduce a strong Bill in this regard, he said. Stressing the need for setting up small local urban cooperative banks across the country, he said no urban cooperative bank has been set up in the country in the past 15 years. The RBI should announce norms for setting up new urban cooperative banks, he said........
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