Based on the inputs of the Rangarajan Committee on Financial Inclusion which has highlighted focus on Inclusion in four specific terms – Access to Financial Services – (savings, credit, insurance and transfer of money), Timely Credit, Adequate Credit and Affordable Credit, NABARD has posted the draft on its website and has sought suggestions and recommendations from the stakeholders in the microfinance industry.

NABARD in association with the Ministry of Finance, Government of India has taken a proactive role on the issue of streamlining regulations for microfinance sector to achieve fast tracking the financial inclusion and microfinance in India. The draft of the document related to regulation and development of microfinance sector has been put up for the comments on NABARD website. Some of the main issues included for suggestion are Composition of Microfinance Organizations, Composition and role of Microfinance Development Council, Functions and powers of National Bank, Constitution of Microfinance Development and Equity Fund, Customer protection and Redressal Mechanism etc.