100 crore and above would be required to comply with the disclosure requirements specified in Clause 49 and of certain financial indicators. Given the recent episodes in the MFI sector, the corporate governance guidelines for MFIs have also been revamped. Measures are aimed at checking undesirable business practices like multiple lending, alleged coercive practices and charging excessive interest rates, etc.
Economic developments I would like to begin by talking about euro area economic performance and prospects. After many years of disappointment, during which economic recovery proved weak and hesitant, the signs are becoming more encouraging. Economic activity in the euro area is improving and the growth outlook, while still far from vigorous, is more favourable than it has been for some time.