A Study on Role of RBI in Promoting Micro Finance
13 Pages Posted: 17 Feb 2014
Date Written: February 5, 2014
The Reserve Bank of India (RBI) is India's central banking institution, which controls the monetary policy of the Indian rupee. The central bank has to perform a wide range of promotional functions to support national objectives and industries. One of the promotional function is micro finance. Micro finance is touted as the big thing that can alleviate rural poverty. Micro finance covers a broad range of financial services including loans, deposits and payment services and insurance to the poor and low-income households and their micro enterprises. In this paper we made an attempt to explain how RBI promoting micro finance and its role in gradual growth in this sector.
Keywords: Reserve Bank of India (RBI), micro finance, promotional functions.
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