INDIA: New MF Bill Introduced

A Bill proposing the regulation and supervision of nonprofit and cooperative organizations providing microfinance in India.

In March 2007, India drafted The Micro Financial (Development and Regulation) Bill, 2007. This Bill, which has been introduced by the Minister of Finance to Parliament, would provide for the regulation and supervision of cooperative societies and nonprofit institutions (including societies and trusts) that are providing microfinance. The regulator for all of these institutions would be the National Bank for Agriculture and Rural Development (NABARD).

The Act will be posted to the Gateway in the near future. In the meantime, you can learn more about the Bill by following the links to articles in India's Financial Express (note that the second article is an opinion piece that criticizes the proposed Bill; CGAP and IRIS are not endorsing the author's viewpoint):

NABARD offers to Play Regulator in Micro-Finance.

Micro Finance Bill: Intrusive Act in the Inclusion Era?