Just lately in the push conference in Kolkata RBI Governor D. Subbarao explained regarding the capping of interest level charge by MFIs that there ought to be some technique of bringing MFIs beneath some sort of discipline. RBI Governor mentioned that any motion would only be taken after the Malegam sub-committee on MFIs submits its report in January. RBI constituted a sub-committee to review the Microfinance sector and suggest means and implies on two difficulties, economic inclusion and social regulation.
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Meanwhile, Alam, father of two young children, explained he had sent The cash for receiving the loan by getting funds from his close friends.
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