Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: form 3cd :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: due date for vat payment :: empanelment
 
 
« General »
 Filing ITR just got easier for salaried class with CBDT's one-page form
 Why consumers should welcome GST
 Retailers need to file single GST return every month
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956

RBI rules out intervention to support microfinance institutions
December, 08th 2010

The Reserve Bank of India (RBI) has ruled out any immediate policy intervention to support cash-strapped microfinance institutions (MFIs).

RBI deputy governor Subir Gokarn on Tuesday said the bank would wait for any intervention until the Malegam Committee submits its report on MFIs in the middle of January. The MFI industry might be under a little stress as banks are finding it difficult to lend to them at this moment. But the system, as a whole, is not under threat, Mr Gokarn said on the sidelines of an outreach programme on the outskirts of Kolkata.

Two months cannot offset the system . The concerns of stakeholders should get reflected in the report, Mr Gokarn said. Facing liquidity crunch, MFIs have shrunk their businesses. Lenders are fearing that their borrowers would stop repayment to maintain the flow of working capital.

MFIN, an umbrella organisation for NBFC-MFIs , has requested RBI to regulate the sector and advise banks to create a Rs 1,000-crore corpus for troubled MFIs, which are going through a tough time as banks have stopped lending to them.

The deputy governor said the time frame for the Malegam Committee has been kept short as the sector is going through a crisis.

RBI sees MFIs as a very important component of its financial inclusion agenda and acknowledges their effectiveness to cover the last mile in providing loans to the people at remote corners of the country. MFIs are an integral part of the financial inclusion, but their operations must be consistent with the financial inclusion policy , Mr Gokarn said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions