https://www.taxtmi.com/news?id=1301 The Reserve Bank of India does not set microfinance interest rates but requires NBFCs to implement a Fair Practice Code forbidding exorbitant charges and harsh recovery; public sector banks were asked to ensure MFIs charge beneficiaries reasonable rates and avoid ever greening. RBI has formed a Central Board Sub Committee under Shri Y.H. Malegam to review sector issues, including making rates reasonable, and the Department of Financial Services proposes the Micro Finance (Development & Regulation) Bill, 2010 informed by those recommendations. en-us Tue, 23 Nov 2010 21:52:37 +0530 Tue, 23 Nov 2010 21:52:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1301 The Reserve Bank of India does not set microfinance interest rates but requires NBFCs to implement a Fair Practice Code forbidding exorbitant charges and harsh recovery; public sector banks were asked to ensure MFIs charge beneficiaries reasonable rates and avoid ever greening. RBI has formed a Central Board Sub Committee under Shri Y.H. Malegam to review sector issues, including making rates reasonable, and the Department of Financial Services proposes the Micro Finance (Development & Regulation) Bill, 2010 informed by those recommendations. News - Tue, 23 Nov 2010 21:52:37 +0530 https://www.taxtmi.com/news?id=1301