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“A Study of Governance Practice in Selected Micro Finance Institutions of Karnataka”

Published in: Journal for Advance Research in Applied Sciences
Volume- 5, Issue-1, pp.23-35, Jan 2018
DPI :-> 16.10089.JARAS.2018.V5I1.2335.2276

Achieving balanced and inclusive economic growth is key challenge faced by policy maker in countries around the world. Gain of economic growth are easily accessible to fairly advantaged, who find it easier to participate in the growth process while, poor people have to wait much longer to reap the benefits. Engaging these sections of society to mainstream economically is essential to achieve equitable growth, which is critical for the long term sustainability of social development and economic prosperity through practicing of good governance. MFIs have evolved into a vibrant segment of financial sector exhibiting a variety of business models in recent years. Spate of policy actions to strengthen the regulation of Microfinance sector, including RBI guidelines on NBFC-MFIs and inclusion of loans to MFIs by bank under priority sector had done a world of good for the sector. The success and outreach of MFIs, especially the large ones both in credit and financial penetration enabled them to obtain approval to operate as mainstream banks/ small finance banks which will facilitate lowering the cost of funds and also passing on the benefit to their clients. This study on despite the measures undertaken by governance and RBI, the purpose of controlling the wrong doings of MFI’s is not reaching the desired state. Until and unless, proper mechanism are developed and implemented to monitor the activities of Microfinance Institutions there is a danger of adverse growth of MFI’s at a rapid speed. So the relevance of this study is to ascertain the degree of governance prevailing and the degree of governance to be established in order to ensure that the interest of MFI stakeholders is protected by and large.

Key-Words / Index Term
: Microfinance Institutions (MFIs), Reserve Bank of India (RBI), Inclusive economic growth, Governance, Non-Banking Financial Company (NBFC).

How to cite this article
NANDISHA H D, Dr. H. PRAKASH , ““A Study of Governance Practice in Selected Micro Finance Institutions of Karnataka””, Journal for Advance Research in Applied Sciences, 5, Issue-1, pp.23-35, Jan 2018. DPI:16.10089.JARAS.V5.I1.2276