Micro finance has come of age in India. It has developed into an important financial delivery mechanism. It has particularly helped women to become owners of assets, have an increased say in decision making and lead dignified lives.
The medium term for central banks, as regards the definition of price stability, is a duration of several years. Therefore the 12 years since the launch of EMU is an appropriate length of time to allow for a review of whether medium term goals have been met. As regards Monetary Union the first aim is price stability, the primary mandate of the ECB.