Union Rural Development Minister Jairam Ramesh remarked that it is not possible to alleviate poverty through microfinance institutions (MFIs). In his valedictory address at the recently held Micro finance summit, the minister said one should be somehow more modest in the expectation of micro-finance and micro-finance institutions. To think that we are g
Tag: lending
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Govt to decide on funding for state-run banks
Financial Services Secretary DK Mittal informed that the government would soon decide on allocation of funding to boost the capital base of public sector banks. He also said that boards of each of the banks that need capital would have to decide whether they want to infuse capital through a rights issue. Leading public sector banks that need capital infusion are
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Large funds must be attracted to bonds
A committee appointed by Reserve Bank of India (RBI) said called for encouraging large institutional investors such as pension funds, provident funds, insurance companies, etc. to invest in bonds floated by bank