ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Consumer Protection in Indian Microfinance

This paper first outlines a case study of the episode in 2006 in Krishna district of Andhra Pradesh when the state government temporarily closed down all the branches of microfinance institutions there. The case study helps provide insights into the kind of consumer protection issues of relevance to Indian microfinance. The article then examines two developments - a code of conduct promulgated by Sa-Dhan, the main network of Indian MFIs, and the draft microfinance bill. The first entails self-regulation, while the second introduces for the first time external regulation of the sector. Among other things, the bill seeks to enable MFIs to offer savings and not just credit. The article looks at the savings promotion objectives of the bill, including two important aspects in which the bill might be improved.

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