About: The Board of Directors of the Reserve Bank of India (RBI) constituted a Sub-Committee to study the issues and concerns on the microfinance sector. This SubCommittee of the Board was formed on October 15,2010, under the chairmanship of Mr Y.H. Malegam. The Committee submitted its report in December 2011. The report contains suggestions to regulate the microfinance sector, pricing of interest, increasing transparency, and reducing the problems of multiple lending and over borrowing.
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