competition refresher magazine

competition refresher magazine

competition refresher magazine Published this article page no 38  The definition of small loans varies between countries. In India all loans that are below Rs. 1 lakh can be considered as microloans. Microcredit is delivered through a variety of institutional channels viz 1. Scheduled commercial banks (SCBs) (including small finance banks (SFBs) and regional rural banks (RRBs)). 2. Cooperative banks. 3. Nonbanking financial companies (NBFCs). 4. Microfinance institutions (MFIs) registered as NBFCs as well as in other forms. Significance of Proposal  RBI has reposed faith in the maturity of the microfinance sector with this step.  This is a forwardlooking step where the responsibility is of the institution to fix a reasonable interest rate on transparent terms. Growth of microfinancing  In the 1990s microcredit was given by scheduled commercial banks either directly or via nongovernmental organisations to womens selfhelp groups but given the lack of regulation and scope for high returns several forprofit financial agencies such as NBFCs and MFIs emerged.  By the mid2000s there were widespread accounts of the malpractices of MFIs and a crisis in some States such as Andhra Pradesh arising out of a rapid and unregulated expansion of private forprofit microlending.  The microfinance crisis of Andhra Pradesh led the RBI to review the matter and based on the recommendations of the Malegam Committee a new regulatory framework for NBFCMFIs was introduced in December 2011.  A few years later the RBI permitted a new type of private lender SFBs with the objective of taking banking activities to the unserved and underserved sections of the population.  Today as the RBIs consultative document notes 31% of microfinance is provided by NBFCMFIs and another 19% by SFBs and 9% by NBFCs.  These private financial institutions have grown exponentially over the last few years garnering high profits and at this pace the current share of public sector banks in microfinance (the SHGbank linked microcredit) of 41% is likely to fall sharply. Topics Major crops cropping patterns in various parts of the country different types of irrigation and irrigation systems storage transport and marketing of agricultural produce and issues and related constraints etechnology in the aid of farmers. 1. AgriStack Context The government is working on a digital stack of agricultural datasets with its core as land records.  But such a centralised stack will use old and inaccurate land records farmers personal and financial details will be used without a strong data protection law and rural areas have a low level of digital literacy. Hence experts say such an AgriStack is problematic. What is AgriStack? The AgriStack is a collection of technologies and digital databases proposed by the Central Government focusing on Indias farmers and the agricultural sector competition refresher magazine buy.

competition refresher magazine