2  BIS Review 75/2010  To further expedite the provision of these services, just two weeks ago, the Monetary Board approved the RBAP-MABS housing microfinance program. Through this approval, the RBAP will take a leadership role in the qualification or screening process of participating banks that wish to offer housing microfinance.
This develops a strong sense of product ownership and makes the process more efficient. Also this year, we issued Circular 683 authorizing rural banks to market, sell and service micro insurance products, subject to certain prudential rules and regulations.