Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | India's Finance Minister to Review Microfinance by Paul Beckett    </title>
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Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh.

In comments..."/>
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Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh.

In comments..." />
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                            <font ><br /></font><div align="justify"><font >Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh.</font><br /><br /><font >In comments at the Hindustan Times Leadership Summit in New Delhi, Mr. Mukherjee said a committee of the Reserve Bank of India is looking at all aspects of microfinance, which has come under sharp criticism in Andhra Pradesh with regulators introducing new restrictions and politicians urging borrowers not to pay, leading to a dramatic drop in loan repayments.</font><br /><br /><font >Mr. Mukherjee said he expects to receive the committee's report by December and &quot;I will take appropriate measures in consultation with the RBI.&quot;</font><br /><br /><font >&quot;My idea is not to strangulate&quot; the business, he said, noting that it can be an effective tool for reaching poor people with financial services who fall outside the banking mainstream. But he also suggested that interest rates on loans could be regulated and that the rate of interest should be &quot;moderate.&quot; </font><br /><br /><font >He also said banks that lend to the sector are being urged to monitor their microfinance clients.</font><br /><br /><font >When asked whether the industry could wait weeks for his recommendations, Mr. Mukherjee replied, &quot;I want to act quickly but at the same time I cannot hit the panic button.&quot;</font><br /><br /><font >Politicians in Andhra Pradesh, which accounts for as much as 35% of the Indian industry and is headquarters to its largest lenders, recently urged borrowers to stop paying amid criticism that lenders were being overly aggressive in collections.</font><br /><br /><font >And Andhra Pradesh, in its ordinance last month, proposed microfinance institutions register all their members with the government and decrease their interest rates, according to V. Vasant Kumar, the state's minister for rural development. </font><br /><br /></div>                                                           
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    <br><a href="http://online.wsj.com/article/SB10001424052748704170404575624233195046078.html" class="re" target="_blank">The Wall Street Journal, 19 November, 2010, http://online.wsj.com/article/SB10001424052748704170404575624233195046078.html</a><div class="clear"></div>
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Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh.

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Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh.

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    <h1 class="cat-box-title">India's Finance Minister to Review Microfinance by Paul Beckett</h1>
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                            <font ><br /></font><div align="justify"><font >Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh.</font><br /><br /><font >In comments at the Hindustan Times Leadership Summit in New Delhi, Mr. Mukherjee said a committee of the Reserve Bank of India is looking at all aspects of microfinance, which has come under sharp criticism in Andhra Pradesh with regulators introducing new restrictions and politicians urging borrowers not to pay, leading to a dramatic drop in loan repayments.</font><br /><br /><font >Mr. Mukherjee said he expects to receive the committee's report by December and &quot;I will take appropriate measures in consultation with the RBI.&quot;</font><br /><br /><font >&quot;My idea is not to strangulate&quot; the business, he said, noting that it can be an effective tool for reaching poor people with financial services who fall outside the banking mainstream. But he also suggested that interest rates on loans could be regulated and that the rate of interest should be &quot;moderate.&quot; </font><br /><br /><font >He also said banks that lend to the sector are being urged to monitor their microfinance clients.</font><br /><br /><font >When asked whether the industry could wait weeks for his recommendations, Mr. Mukherjee replied, &quot;I want to act quickly but at the same time I cannot hit the panic button.&quot;</font><br /><br /><font >Politicians in Andhra Pradesh, which accounts for as much as 35% of the Indian industry and is headquarters to its largest lenders, recently urged borrowers to stop paying amid criticism that lenders were being overly aggressive in collections.</font><br /><br /><font >And Andhra Pradesh, in its ordinance last month, proposed microfinance institutions register all their members with the government and decrease their interest rates, according to V. Vasant Kumar, the state's minister for rural development. </font><br /><br /></div>                                                           
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    <br><a href="http://online.wsj.com/article/SB10001424052748704170404575624233195046078.html" class="re" target="_blank">The Wall Street Journal, 19 November, 2010, http://online.wsj.com/article/SB10001424052748704170404575624233195046078.html</a><div class="clear"></div>
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Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh.

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    <h1 class="cat-box-title">India's Finance Minister to Review Microfinance by Paul Beckett</h1>
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                            <font ><br /></font><div align="justify"><font >Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh.</font><br /><br /><font >In comments at the Hindustan Times Leadership Summit in New Delhi, Mr. Mukherjee said a committee of the Reserve Bank of India is looking at all aspects of microfinance, which has come under sharp criticism in Andhra Pradesh with regulators introducing new restrictions and politicians urging borrowers not to pay, leading to a dramatic drop in loan repayments.</font><br /><br /><font >Mr. Mukherjee said he expects to receive the committee's report by December and &quot;I will take appropriate measures in consultation with the RBI.&quot;</font><br /><br /><font >&quot;My idea is not to strangulate&quot; the business, he said, noting that it can be an effective tool for reaching poor people with financial services who fall outside the banking mainstream. But he also suggested that interest rates on loans could be regulated and that the rate of interest should be &quot;moderate.&quot; </font><br /><br /><font >He also said banks that lend to the sector are being urged to monitor their microfinance clients.</font><br /><br /><font >When asked whether the industry could wait weeks for his recommendations, Mr. Mukherjee replied, &quot;I want to act quickly but at the same time I cannot hit the panic button.&quot;</font><br /><br /><font >Politicians in Andhra Pradesh, which accounts for as much as 35% of the Indian industry and is headquarters to its largest lenders, recently urged borrowers to stop paying amid criticism that lenders were being overly aggressive in collections.</font><br /><br /><font >And Andhra Pradesh, in its ordinance last month, proposed microfinance institutions register all their members with the government and decrease their interest rates, according to V. Vasant Kumar, the state's minister for rural development. </font><br /><br /></div>                                                           
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    <br><a href="http://online.wsj.com/article/SB10001424052748704170404575624233195046078.html" class="re" target="_blank">The Wall Street Journal, 19 November, 2010, http://online.wsj.com/article/SB10001424052748704170404575624233195046078.html</a><div class="clear"></div>
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Home हिन्दी

India's Finance Minister to Review Microfinance by Paul Beckett

Published on Nov 20, 2010   Modified on Nov 20, 2010

Indian Finance Minister Pranab Mukherjee said Friday he intends to regulate but not strangle the microfinance industry, which is in crisis because of new regulations and political attacks in its biggest Indian market, the southern state of Andhra Pradesh. In comments at the Hindustan Times Leadership Summit in New Delhi, Mr. Mukherjee said a committee of the Reserve Bank of India is looking at all aspects of microfinance, which has come under sharp criticism in Andhra Pradesh with regulators introducing new restrictions and politicians urging borrowers not to pay, leading to a dramatic drop in loan repayments. Mr. Mukherjee said he expects to receive the committee's report by December and "I will take appropriate measures in consultation with the RBI." "My idea is not to strangulate" the business, he said, noting that it can be an effective tool for reaching poor people with financial services who fall outside the banking mainstream. But he also suggested that interest rates on loans could be regulated and that the rate of interest should be "moderate." He also said banks that lend to the sector are being urged to monitor their microfinance clients. When asked whether the industry could wait weeks for his recommendations, Mr. Mukherjee replied, "I want to act quickly but at the same time I cannot hit the panic button." Politicians in Andhra Pradesh, which accounts for as much as 35% of the Indian industry and is headquarters to its largest lenders, recently urged borrowers to stop paying amid criticism that lenders were being overly aggressive in collections. And Andhra Pradesh, in its ordinance last month, proposed microfinance institutions register all their members with the government and decrease their interest rates, according to V. Vasant Kumar, the state's minister for rural development.

The Wall Street Journal, 19 November, 2010, http://online.wsj.com/article/SB10001424052748704170404575624233195046078.html

Tagged with: Microfinance Financial Inclusion

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