pratiyogita darpan hindi Published this article page no 110 Features Lending of small amounts of loans without any collateral and flexible repayment schedule. Origin Microfinance largely originated from works of NGOs with Bangladesh Grameen Bank as first microfinance institution in 1983. Indian Microfinance Unlike a parallel evolution in other parts Indian microfinance evolved in relationship with public banks though linkage between SelfHelp Groups (SHGs) NGOs and banks. Starting from SHGBank linkage programme of 1992 Indian microfinance movement is now worlds largest with nearly 102 million accounts and outstanding credit of over 1 lakh crore. Apart from SCBs small finance banks RRBs Cooperative banks NBFCs and NBFCMFIs also provide microfinance. o NBFCMFI is a nondeposit taking NBFC with minimum net owned fund of 5 crore (2 crore for NBFCMFIs registered in the North Eastern Region) and having minimum 85 per cent of its net assets (assets other than cash bank balances and money market instruments) in the nature of qualifying assets Proposed framework for Regulation of MFIs Single uniform set of regulations for all Regulated entities (REs) of RBI with changes as Parameters Existing Regulatory framework for NBFCMFIs Proposed changes in regulatory framework Definition of Microfinance borrower Borrower with annual household income not exceeding 125000 for rural and 200000 for urban and semiurban areas. Same criteria shall be extended to all REs for the purpose of the common definition with addition of Board approved policy from all REs enumerating factors considered for assessment of household income. Limits on household indebtedness Total indebtedness of the borrower does not exceed 125000 (excluding loan for education and medical expenses). Link the loan amount to household income in terms of debtincome ratio with all REs to ensure that the EMI a household has to pay does not exceed 50% of its income. Nature of loans Collateral free loans without any prepayment penalty pratiyogita darpan hindi buy.
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