Currently, it is proposed to examine the issue in detail in the light of recommendations of the Khan Committee and keeping in view the Microfinance Consensus Guidelines issued in July 2003 by the Consultative Group to Assist the Poor (CGAP) incorporating the Guiding Principles on Regulation and Supervision of the MFIs.
Unlike a branch, it was a place where everyone, rich or poor, was in the same queue. As we were undertaking all these different measures, I wanted to communicate this policy commitment to meeting the needs of ordinary people for essential financial services in the Monetary Policy Statement of 2005. Mrs Usha Thorat, the Deputy Governor, and I worked together on a draft.