Enactment of a New Law on Micro Financial Sector

The Union Cabinet on 7th December 2006, gave its approval for enactment of a legislation on the Micro Financial Sector (Development and Regulation) subject to amendments of a consequential nature, if any, in consultation with the Legislative Department.

The Micro Financial Sector (Development and Regulation) Bill, 2006 will provide the full support / oversight to the micro Finance Sector. It will ensure a legal framework for the entities engaged in the micro finance and facilitate an environment for development of micro finance services in the country with greater transparency, effective management and better governance.

It will facilitate the flow of micro finance services to the un-banked population of the country.

The Bill will be introduced in the current session of Parliament.

Microfinance resulting in multiple lending ...Click here

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