摘要：Latest proceedings in India have brought a fresh focus upon the problem of regulation in the field of micro-jinance. This paper delineates the three different aspects where gavernment needs to play a role. The first is to protect the rights of the micro-borrower, the consumer of micro-financial services. The second is that of prudentialaversight of risk-taking by firms operating in micro-finance, since this could have systemic implications. The third is a developmental role, emphasizing scale-up of the micro-jinance industry where the key issues are diversification of access to junds, innuvations in distribution and product structure, and the use of new technologies such as credit bureaus and the UID. Each of these roles needs to be placed in an existing or a new regulatory agency. There is a case for creating a new regulatory agency which unifies the consumer protection junction across all financial products.
