'National Agriculture Conference - Rabi Abhiyan 2025' to begin in New Delhi today (See 'Corp Brief') A country cannot feel sense of pride if own people do not speak native language: HM (See 'Corp Brief') DFS organises PSB Manthan 2025 (See 'Corp Brief') PMLA - If additional proceeds of crime are unearthed by ED during further investigation, then it can inform CBI for taking further necessary action at their end: SAFEMA (See 'Legal Desk') IICA DG highlights ESG Integration and IBC 3.0 at Corp-Con 2025 (See 'Corp Brief') Prajapati Assumes Charge as Director of All India Institute of Ayurveda (See 'Corp Brief') SEBI - Fact that transactions in particular contract were reversed with same counterparty indicates prior meeting of minds with view to execute reversal trades at pre-determined price: SEBI (See 'Legal Desk') Govt goes for AI-based weather forecasting for agriculture (See 'Corp Brief') India partners with Iceland for sustainable Blue Growth (See 'Corp Brief') Ministry of Coal hosts Roadshow on Coal Gasification-Surface and Underground Technologies (See 'Corp Brief') Reddy inaugurates IBM's Regional Office in Ranchi (See 'Corp Brief') Insurance Surety Bonds for NHAI Contracts Crosses Rs. 10,000 Crore Landmark (See 'Corp Brief') 56th GST Council decisions to benefit both Coal Producers and Consumers (See 'Corp Brief') Railways begins loading of Fresh Apples for Delhi Market (See 'Corp Brief') SEBI - Purposes of disclosure is to bring about transparency in transactions and assist Regulator to effectively monitor transactions in market: SEBI (See 'Legal Desk') RM virtually flags-off Tri-service all-women circumnavigation sailing expedition (See 'Corp Brief') DFS Secy chairs meeting to discuss issues related to Infrastructure Sector (See 'Corp Brief') India sustains major gains in Malaria reduction, aims for elimination by 2030 (See 'Corp Brief') SEBI - Retrospective directions given without notice cannot be sustained: SAT (See 'Legal Desk') GST Reforms in Mining Sector to boost Housing and Small-scale Enterprises (See 'Corp Brief') 'Adi Sanskriti' - A Digital Learning Platform for Tribal Artforms launched (See 'Corp Brief') IPR - No cause of action arises merely from filing trademark application: HC (See 'Legal Desk') MoS chairs 14th Pension Adalat at Vigyan Bhawan (See 'Corp Brief') IBC - Liability of Guarantor and Principal Borrower does not always need to be same: NCLT (See 'Legal Desk') Giriraj Singh highlights transformative outcomes of Next-Gen GST Reforms (See 'Corp Brief') Coal India Limited and NSTFDC Sign MoU to Empower Tribal Students through Eklavya Model Residential Schools (See 'Corp Brief') Chouhan, Rekha Gupta formally inaugurate SARAS Livelihood Fair (See 'Corp Brief') NSTFDC & Coal India ink MoU to empower 30,000 Tribal Students with Digital Learning (See 'Corp Brief') Scope of Social Security to expand with SPREE-2025 and AMNESTY Scheme (See 'Corp Brief') IPR - Writ court can't substitute its subjective view with respect to aspects such as deceptive similarity, once Commercial Court has taken view in that regard, unless such view is found to be palpably erroneous: HC (See 'Legal Desk') CCI okays buy of Dana Incorporated's off-highway business by Allison Transmission (See 'Corp Brief') IEPFA hosts Conference on 'Unlocking Potential of Idle Financial Assets' (See 'Corp Brief') NCEL, APEDA sign MoU to boost cooperative-led agricultural exports (See 'Corp Brief') iDEX-DIO, EdCIL India ink MoU to develop dual-use tech under new ASPIRE program (See 'Corp Brief') IPR - Infringement can arise from any acts of making, using, offering for sale, selling, or importing patented product without consent, and marketers and sellers are equally liable: HC (See 'Legal Desk') Ministry of Minority Affairs concludes 5th Edition of Lok Samvardhan Parv in Kochi (See 'Corp Brief') GST reforms to empower Youth, Promote Fitness and Enhance Ease of Living (See 'Corp Brief') SARFAESI - If Legal representative of deceased guarantor has inherited property in question, then liability of deceased guarantor to repay debt shall fall upon representative who were party to DRT proceedings: HC (See 'Legal Desk') NTH offers Drone Certification at Industry's lowest Fee of Rs.4.2 Lakh (See 'Corp Brief') Scindia to lead Indian Delegation at Universal Postal Congress in Dubai (See 'Corp Brief') IPR - Defendant's continued use of 'IMS Young Achievers' after termination of its agreement with plaintiff amounted to trademark infringement & passing off: HC (See 'Legal Desk') DRDO organises conclave for capacity building of MSMEs (See 'Corp Brief') IPR - Suppression must be deliberate, material, and of high degree to warrant vacating ad-interim relief: HC (See 'Legal Desk') MoS pledges support for '#GarvSeSwadeshi', reaffirming govt's commitment to Atmanirbhar (See 'Corp Brief') IBC - Once there is no variance inter se between Defendants, then Sec 133 of Contract Act does not come into play and Plaintiff cannot seek discharge of its liability under unconditional bank guarantee issued in favour of beneficiary: HC (See 'Legal Desk') ICGEB New Delhi commemorated first anniversary of BioE3 Policy (See 'Corp Brief') A&C - Delay in filing and refiling appeals cannot be condoned due to lack of bona fide: HC (See 'Legal Desk') Board to Report what's Right what's Not (See CORP EINSICHT)

Print

DFS Secretary chairs meeting with Micro Finance Institutions

Published: Jan 09, 2025

By TIOLCorplaws News Service

NEW DELHI, JAN 09, 2025: M Nagaraju, Secretary, DFS, M/o Finance chaired a meeting with major Micro Finance Institutions, in New Delhi, today. The meeting was also attended by senior officials of DFS including industry bodies namely MFIN & Sa-Dhan.

The engagement with MFIs was designed to foster an open exchange of ideas aimed at elevating the MFI sector. The emphasis was on reaching the low income households in villages and uplifting their lives by providing them hassle-free financial assistance, if needed.

Participating MFIs apprised that the business of MFI industry has risen from Rs. 17,264 crores in March'12 to Rs. 3.93 lakh crore as on November'24. The industry operates in over 723 districts including 111 aspirational districts across 28 states and 8 Union Territories. They also cater to the financial needs of almost 8 crore borrowers.  MFIs contributes 2.03% of the gross value added to GDP and supports 1.3 crore jobs.

During the meeting, challenges & issues being faced by MFIs were also discussed. It was informed that MFIs are facing difficulties in raising low cost long term funds. The quality of MFI portfolio is being impacted on account of various issues including reduction in lending to the sector.

The MFIs requested for formulating credit guarantee scheme(s) suiting MFIs/borrowers, creation of special fund/facility for MFIs operating in North East region and relaxation in qualifying assets norms applicable to MFIs so that their risk can be diversified to other lending avenues.

Secretary, DFS emphasised that MFIs in India need to be more robust, vibrant and financially sound, catering to the needs of rural masses. MFIs need to draw a roadmap to strengthen the sector and become more viable, he said. It was also pointed out that like digital disbursements, MFIs should encourage repayment of loans digitally while at the same time focus on cybersecurity & resilient IT infrastructure. They should also strengthen their governance standards.

During the meeting, Secretary, DFS recognized the work done by MFIs in impacting the lives of people in rural areas. He stated that DFS value the efforts put in by MFIs in supporting financial inclusion.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.