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Bill seeks to cap loan interest
The government on Tuesday tabled in Parliament the Microfinance Institutions (Development & Regulation) Bill, seeking to make the Reserve Bank of India (RBI) the regulator for micro lenders too. The Bill seeks to empower RBI to cap the margins and interest rates charged by MFIs.
“The Bill provides for regulation of MFIs’ services, such as micro-credit facilities, thrift, pension or insurance
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