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Many of the NGOs who wish to graduate into NBFCs feel that
the minimum capital requirement of Rs. 200 lakhs is a bit too
Microfinance Institutions (NBFCs and Cooperatives) Microfinance Institutions (MFIs) differ from the MCIs registered under Section 25 of the Companies Act,1956 in that they are allowed to collect deposits and also lend. The NBFCs are companies registered under the Companies Act, 1956 and regulated by the RBI. The NBFCs accepting public
A NEW PARADIGM
Existing State Fragmented Undifferentiated Leaning on subsidy Poor not aware of rights
DEMAND Desired State Organized To be differentiated Reticent to avail subsidy Members are aware of their rights
SUPPLY
Existing State
Grants Directed credit Lack of linkages Focus on credit High dominance by informal market
Desired State
Borrowings/ Deposits On demand Core linkage with banks / Fls Add savings and insurance Low dominance
AGENCY
Existing State Non-Specialized Desired State Specialized
Lack of orientation
Not for profit Not linked to mainstream Unorganized
Core orientation
For Profit Link up to formal financial markets Self-regulated
REGULATORY
Impeding environment
Enabling environment
There are three possible options as regards the intermediary institution. The first option is to increase the flow of funds to informal lenders to supplement their own funds.
The second option that is being felt is that since the existing structures are inadequate to meet the housing and economic