Microfinance Bill may not be taken up this session: Jairam Ramesh

The much-awaited Microfinance Regulation Bill is unlikely to be taken up for passage during the ongoing winter session of Parliament, Rural Development Minister Jairam Ramesh said.

“With just few days to go for the session to end, I don’t see this Bill (microfinance) being taken up,” Ramesh told Business Line on the sidelines of a microfinance industry event in the capital.

Awards presented At the event, Ramesh handed over certification awards to five Indian microfinance institutions for meeting strong standards of client-care.

The five microfinance institutions — Bangalore-based Ujjivan and Grameen Koota, Chennai-based Equitas, Varanasi-based Cashpor and Mumbai-based Swadhaar — were recognised under The Smart Campaign, a global initiative to incorporate strong client-protection practices into the microfinance industry.

The Smart Campaign was launched in January 2013.

The certification awards ceremony held in the Capital was a part of a special event hosted by the Smart Campaign and included a panel discussion on the significance and importance of client protection.

srivats.kr@thehindu.co.in