Microfinance News Digest

Indian Microfinance Bill to be introduced in late Nov 2011 – News Digest

Govt likely to introduce Micro-Finance Bill in Winter Session
The government is likely to introduce a Bill that seeks to make it mandatory for all micro-finance institutions to be registered with the Reserve Bank of India and entrusts the task of regulating the sector to the central bank in the Winter Session of Parliament. Hindu

Can microfinance institutions lower their loan rates?
By Tamal Bandho . Read more on Livemint


rbi nbfc cheque

Stop gradually use of cheques: RBI to NBFCs
As part of its green initiative, the Reserve Bank of India (RBI) last week asked all non-banking financial companies (NBFCs) to gradually phase out use of cheques and shift to electronic payment system. BS

After 3 months from issue date, cheques won’t be accepted: RBI
The Reserve Bank of India (RBI) on Sunday said cheques presented after three months from the date of issue would not be accepted in banks. BS

RBI comes down heavily on banks for lack of governance
Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty came down heavily on banks for lack of governance and opaque practices that were followed on pricing of loans. BS

Obopay rolls out mobile payment service for Nokia users in India
With mobile banking steadily gaining pace, the service providers are gearing up to make the most out of it. Obopay, a mobile payment service provider, is all set to expand across the country on the back of a tie-up with handset manufacturer Nokia.BS

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