Monday, May 07, 2007

Indian Microfinance Bill not adequate

Indian Minister of State for Commerce Jairam Ramesh has said that the proposed draft of the Microfinance bill is not upto the mark.

In one of my earlier blogs, I had mentioned that there was some opposition to the current version of the bill.

I have not been able to find an online version of the draft bill so far.

Mint, the new Indian Business Daily, has an article that cautions about the clause that allows anyone who can collect upto Rs. 500,000 in total to be a Microfinance Bank.

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