M Sahoo, Renuka Sane, Susan Thomas
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What is the role of financial regulation in
the field of micro-finance? This paper identifies
two features of micro-finance which call for
unique treatment in policy considerations as
compared to policy thinking in the mainstream body
of financial law. These features are credit
recovery and the credit risk of the MFI, when
credit access is enabled through the structure of
the joint liability group. The paper goes on to
offer draft law which embeds a regulatory
treatment of micro-finance that flows from this
analysis. |