Four years to give two billion people access to financial services. Everyone should have access to basic financial services by This goal, set by the World Bank, aims to combat the financial exclusion that impacts two billion people. Having a bank account is the first step to access basic financial services, such as loans or insurance, which help underprivileged families to receive essential services like water, electricity, housing, education or healthcare.
It also allows small and medium sized businesses to grow, expand operations and improve risk management. What are you looking for? Press Enter Predictive Search. Close panel Close panel Close panel. Shareholders and investors. BBVA in the World. BBVA Earnings. Financial calendar. Latest news. BBVA Podcast.
Customer service via social networks. Careers at BBVA. Highlights of the Bill The Bill seeks to provide a statutory framework to regulate and develop the micro finance industry. MFIs are defined as organisations providing micro credit facilities up to Rs 5 lakh, thrift collection services, pension or insurance services, or remittance services. The Bill provides for the creation of councils and committees at central, state and district level to monitor the sector.
The Bill requires the RBI to create a grievance redressal mechanism. It allows RBI to set upper limits on lending rates and margins. However, there is no provision for consultation with the Competition Commission of India.
Technology is helping the industry evolve methods to assess the cash flows and repayment capacity of micro-enterprises. Tailoring these to micro-lending, determining income ranges for various customer segments with the support of industry bodies and using combined bureau reports for loan pricing can lend momentum to sector-wide solutions by the private sector.
Finally, an overarching set of principles to prevent mis-selling by retail lenders is missing in our regulatory lexicon. These are worth considering for India.
In sum, the proposed framework is a great leap forward and reflects bold thinking. Yet, expanding it to cover the above elements can usher in responsible retail lending that includes but transcends microfinance. Eventually, it is up to the private sector to demonstrate that it is ready to pursue profits responsibly.
Failing that, the next consultative document may look very different. Never miss a story! Stay connected and informed with Mint. Download our App Now!! Users are informed that, should they fail to comply with the content or the obligations stemming from the Terms and Conditions of the Website or any other specific terms and conditions established in the Website, BBVAMF reserves the right to limit, suspend or terminate their access to the Website, adopting whatever technical means may be required for this purpose.
Likewise, BBVAMF reserves the right to exercise such measures in the event of reasonable suspicions that Users may be breaching any of the Terms and Conditions of the Website or any other specific terms and conditions establish in the Website.
It may also limit or refuse access to such information at any time and without prior warning. Especially, BBVAMF reserves the right to delete, limit or impede access to the Website when technical difficulties arise due to events or circumstances outside the power of BBVAMF that it judges may diminish or annul the levels of security or standards adopted for the proper operation of the Website.
For this purpose, BBVAMF reserves the faculty at any time to decide on the continuity of the society information services that it provides on its Website. BBVAMF grants Users who respect the Website Terms and Conditions authorisation to use the Website, in a non-exclusive manner, during the maximum period in which the intellectual and industrial property rights remain in force pursuant to applicable regulations except if their access to the Website is suspended on due grounds , for the purpose of Users being able to use the Website in accordance herewith.
Pursuant to this legislation, BBVAMF cannot be held responsible for the services and content provided via the Linked Websites, unless it has effective knowledge that these are illicit and has failed to de-activate the link with due diligence. In no event does the existence of Linked Websites mean that BBVAMF is recommending, promoting, identifying with or in conformity with the declarations, content or services provided over the Linked Websites. Users are the only parties responsible for checking these and accepting them each time they access and use the Linked Websites.
Should Users or any other internet users become aware that any kind of information or content on the Website or provided over the Website is illicit, in breach of third-party rights, hateful, denigrating, violent, inappropriate or in any way contrary to morality, usage and good behaviour, they can contact BBVAMF indicating the following:. In all events, BBVAMF reserves the right to suspend or withdraw the content that, even where licit, is contrary to the standards established in these Conditions of Use, always assessing the legal goods in each dispute.
Users must know that communications over open networks are exposed to a range of threats that mean they are not secure. This includes keeping their malware detection systems up to date to protect against viruses, trojans, etc, and installing the latest versions of the security patches for their browsers. They can request further information on this from their internet access provider, which can suggest suitable solutions for their needs. With the maximum scope permitted by applicable legislation, BBVAMF does not bear responsibility for damage and loss caused to Users as a consequence of risks inherent to the medium employed, nor those occasioned by vulnerabilities in their systems and tools.
Although it has adopted adequate security measures, it cannot totally discard the possibility of vulnerabilities existing.
Consequently, Users must be careful in their interaction with the Website.
0コメント