The Government of India has given a further boost to Financial Inclusion initiatives and to grow domestic financial markets.

The Government has proposed more licenses for banking to private banking institutions and NBFCs.

The Government has also indicated a higher NREGA outlay. It has increased corpus for technology and financing funds under NABARD. Most importantly, the Government has doubled the Microfinance Development Equity Fund corpus to Rs. 400 crores, which is a very positive development for the microfinance industry. The fund size is small but being with right intention and the gesture is one in the right direction. The move very well recognises the major change in development brought about by micro-finance companies in India.