The accusation of ‘coercive' practices to recover the loans has been laid at the doors of some leading players Micro Finance institutions (MFIs) that are for profits are in the news for the wrong reasons. The ‘for profit' MFIs have grown spectacularly in recent times. But along with the large profits have come allegations of sharp practices. In Andhra Pradesh, where such MFIs have a sizable presence, the climate has now drastically...

The new consumer price indices set to debut in January will be compilations of indices for states that reflect the price trends prevailing in the country accurately, helping policy formulation and targeted intervention. Each state will have two consumer price indices, one for rural and another for urban areas. These CPI rural and urban will be added up to arrive at urban and rural retail indices at the national level. These...

Even before the Reserve Bank of India (RBI) finalizes the guidelines for handing out new bank licences, its draft proposal has evoked unease in the National Bank for Agriculture and Rural Development (Nabard), which oversees the country’s 82 regional rural banks (RRBs). Nabard has taken exception to the banking regulator’s proposal to allow industrial houses to take over RRBs and convert them into full-fledged banks, saying such a move could dilute...

The Reserve Bank of India has agreed to Jharkhand's request for banks having at least one-day-per-week branch in every panchayat to help beneficiaries draw wages under MGNREGA and money under social security schemes, a senior official said here today."The RBI has agreed to our request that banks should make efforts to open at least one-day-per-week branches in panchayats so that withdrawing wages under MGNREGA, (money under) social security and scholarships...

A worried government has put on fast track the proposed bill to regulate micro-lenders, as it seeks to ensure that over-regulation by states does not kill the sector that is envisaged to play a big role in furthering financial inclusion. The finance ministry could move a bill in the winter session of Parliament that will make Nabard responsible for regulation of all non-profit microfinance institutions structured as trusts, cooperatives, or mutual...