Micro finance companies and control

THE BIGGEST FRAUD IS GOING ON IN BANKING SECTOR.

ALL SIDBI,ICICI AND PRIVATE BANKS ARE FUNDING THESE MICRO FINANCERS IN A BIG WAY FOR 9% P.A INTEREST. CRORES OF RUPEES INVOLVED IN THIS ROCKET.

IN A.P NOW THERE ARE 10+ SUICIDES FROM WOMEN GROUPS IN ONE YEAR.

Sir 

we are talking of crime being perpetrated in same breath as regulation/control

shouldn't we look in another direction?

crime/law and order

regards

Sir

SHG groups in Andhra Pradesh for many years by state government and NGOs  for  empoerment of women

which is beneficial to the society in many ways like litercy, health , rural leadership and to arrest rural indebtedness and financial descipline . Our idea is 80 % population in rural areas and nearly 40 % in metro

and urban areas had developed good banking habits and even bankers aprreciated the recovery.

any mechanism which supports all cordinal prinicipals as enlisted above is always good and welcome .

Please give possible solutions for the benefit of society  you are welcome sir

All finance groups are governed by RBI post  scams. 

DBS - dept of banking supervision.

Micro finance there is a new Act also.

best way is to make memorandum and emphasise it with RBI, FM etc. 

make an association of clients of MF and move it fwd

provide legal assistance under that association and use legal route of FIR, etc. 

regards

Hello sir the proposed act will be positively placed in the parlament  may be in the next session

but is it not that some action is required by RBI to regulate MFIs?

and you have not answered the benefits associated with SHGs for the society

is it the society / state at large  who nurtured the activity  for many years to get the benefit or a few in the society?

Mr. PS

RBI acts late and onlyl on push. when foreign banks and all credit card issuers were and is sucking our blood with exorbitant interest rates and penalties,  they were watching.

regarding society benefit, it is self help group. it can extend help to the extent it can. SHG is a portion of society and when SHG grows society especially those who are not getting help otherwise and is ignored are being benefited. 

there will always be a queue for help being given. to reach society may not be an issue.

the very word SHG makes it clear that state is not nurturing and as SHG being a part of society, society nurturing it does not arise.

i hope this  is the point of marketing you were talking. 

regards

sir VLV

when i say government  has nurtured SHG means state has groomed it for the benefit of the

society  but i am aftraid  society in ur explanation is only a few who can lend money

if not please correct me.

My endeavour is a full grown segment which going to be very useful  to the society(state)

of 100 crore population is being to private hands ignoring the benefit to the society

Finally the curtain is down.

The state and RBi start thinking of some them may be due to pressure.

The AP Govt has passed an ordinence to regulate MF companies.