Sunday, July 4, 2010

Micro Finance and Developments : Networking

Microfinance and Networking

Yet another development for monitoring of Microfinance Institutions in India  through an Ombudsman and Credit Information Bureau.  It is a laudable development that 39 leading MFIs / NBFCs coming together to form a Self Regulatory Organisation (SRO) in the name of Microfinance Institutions Network (MFIN) to observe self-discipline.  Earlier, we had SROs for Banks (IBA), Mutual Funds (AMFI), Merchant Bankers (AMBI), NBFCs, Credit Card Operators and so on. In a healthy financial system such organisations could play a vital and positive role to oversee the working of its members and help build a professional level playing field. 

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