The Hindu Business Line : States may wield the stick on moneylenders
What a sad and unfortunate development, so soon after the first MFI in India having gone for equity from market. Only after this public issue, the GoI and RBI realised their role to regulate or oversee the working of and funds raising of equity by MFIs. Where is the Financial Inclusion from Commercial Banks? What are the NBFCs doing in this area? Have the RRBs/LABs and Cooperative Banks failed in discharging their responsibility of delivering credit at low rates of interest and on concessional terms to the rural borrowers? Are the farmers committing suicides only on account of high rates of lending by commercial banks or usurious rates by MFIs and Money Lenders?