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: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: cpt :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT RATES :: list of goods taxed at 4% :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« General »
 Tax Department To Launch 2nd Phase Of Bank Accounts' Scrutiny Next Month
 How to claim tax benefit on tuition fees under Section 80C
 Online Income Tax grievance redressal facility launched at 60 offices
 Demonetisation impact on government tax revenue marginal; direct tax personal income grew at above budget estimates
 ICAI seeks more accountability, transparency in defence sector
 Will Budget help double farmers’ income?
 Verify online deposits made post demonetisation, income tax department asks taxpayers
 Union Budget 2017: Best budget is do not change anything, do no harm, implement well
 Why salaried class deserves standard deduction
 3 new taxes that Modi government could introduce, but won't
 Tax gains may showcase demonetisation windfall

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