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Microfinance and Micro insurance Specialists |
Micro finance and sustainable development
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Activity:
Question posted: 03 07 2009 08:34:54 +0000,
2 answers, 183 views, last activity
07 06 2010 20:18:08 +0000
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Microfinance institutions offer varios types of savings schemes to the low income group. They even provide savings deposit schemes. But can they provide term deposit schemes as well?What the the issues that are considered?
2 Answers for "Can Micro finance accept deposits from the public?"
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Not Rated
Cannot accept public deposits
Exempt from Income Tax if registered under Section 12A of the Income Tax Act.
Not Rated
Micro finance institutions will not be allowed to accept public deposits as it puts public money at risk. If one has to do so all aspects, including legal, policy matters and interest of shareholders should be taken into account & also they should comply with the extant regulatory framework of the RBI.
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