TaxTMI 
TaxTMI 
National Policy on Microfinance.
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....ational Policy on Microfinance. <br>News and Press Release<br>Dated:- 11-5-2012<br><BR>Press Information Bureau Government of India Ministry of Finance 11-May-2012 17:55 IST National Policy on Microfinance Planning Commission had constituted a High Level Committee on financial sector reforms under the Chairmanship of Shri Raghuram G. Rajan, Professor, Graduate School of Business, University o....
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....f Chicago in August, 2007. The Committee submitted the report in September, 2008. The Committee observed that, "despite its success, the future growth of microfinance is constrained by a number of factors. An important issue is the ability of MFIs to raise financing. Given the large estimated demand for microcredit, MFIs need multiple sources of financing, apart from the traditional loan financin....
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....g from banks. Other constraints include an unclear regulatory environment and the lack of well-developed management information systems and an adequate supply of trained management talent to facilitate sustainable scaling up." To provide a formal statutory framework for the promotion, development, regulation and orderly growth of the micro finance sector and thereby to facilitate universal access....
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.... to integrated financial services for the unbanked population, the Department of Financial Services is formulating Micro Finance Institutions (Development and Regulation) Bill 2012. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Lok Sabha today. ***** DSM/SS/SL<BR> News - Press release - PIB....