Where Angels Prey

Where Angels Prey is a novel by Ramesh S Arunachalam. Please refer to www.whereangelsprey.com for more information

Friday, December 9, 2011

Tackling informal collateral and collateral substitutes in Indian microfinance

Ramesh S Arunachalam

The RBI must ensure that informal collateral and/or abusive collateral substitutes do not contaminate microfinance in the future. It should also seriously think on incentives/disincentives that can be set up to eliminate use of informal collateral and/or abusive collateral substitutes, where they exist

Recently the Reserve Bank of India (RBI) issued a circular defining NBFC–MFIs. According to the circular, an NBFC-MFI is defined as follows:

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