Financial sector expert Y.H. Malegam will head a Reserve Bank of India (RBI) panel to look into the functioning of microfinance institutions or MFIs and their regulations. The MFIs are in the business of giving tiny loans. Kumar Mangalam Birla, Shashi Rajagopalan and U.R. Rao – all on the boards of the Indian central bank – and RBI deputy governor K.C. Chakrabarty are the members of the panel. The committee, which will...
More »SEARCH RESULT
Total Matching Records found : 648
Prabhat Patnaik, Professor at CESP, Jawaharlal Nehru University and vice-chairman of the Planning Board of Kerala interviewed by R Krishna
Last month, leaders from 185 countries met in New York to take stock of progress in achieving the Millennium Development Goals (MDGs) — which include, among other things, eradicating poverty and hunger, reducing child mortality, improving maternal health — that were set in 2000 by the United Nations. The aim was to achieve these goals by 2015. But 10 years down the line, the world is way behind targets in achieving...
More »MFIs cannot collect interest more than the principal
The accumulated interest collected by microfinance institutions (MFIs) on loans shall not exceed the principal amount, according to the much-awaited ordinance promulgated by Governor E.S.L. Narasimhan here on Friday to put a check on their activities. However, the interest rate chargeable by the MFIs finds no mention in the ordinance as the government is of the view that this falls under the purview of the Reserve Bank of India (RBI), according...
More »Punjab Dy CM requests RBI Governor to promote debt swap scheme for farmers
The Punjab Government Thursday requested the Reserve Bank of India that it should impress upon Public Sector banks to aggressively promote Agricultural Debt Swap scheme to free the farmers from the clutches of moneylenders. The Punjab Deputy Chief Minister Mr. Sukhbir Singh Badal raised this issue when Dr. D. Subbarao, Governor, RBI today called on him. The Deputy Chief Minister impressed upon the Governor that the Punjab farmers reeling under Rs....
More »RBI for timely payment of rural job scheme workers by KA Gupta
The Reserve Bank of India (RBI) is to consider a proposal for opening of weekly branches in unbanked panchayats in the state. Gumla is one among the 16 districts, which have been classified as under-banked districts in the state. Delay in disbursing wages under MGNREGA and executing other welfare schemes will now be sorted out by reaching banking services to hitherto unbanked areas and new measures have also been initiated. Before the...
More »
