The unemployment rate stands at more than 10%, its world market share of exports has declined by 25% since the beginning of EMU and at around 90% of GDP public debt has reached a level that could potentially hurt growth, according to some studies. But France has acknowledged the importance of sound public finances and a competitive economy.
Government of India has come out with The Microfinance Institutions (Development and Regulation) Bill, 2011 which, among other things, envisages the Reserve Bank of India as the sole regulator of microfinance sector covering all forms of MFIs in addition to NBFC – MFIs which are presently being regulated by the Reserve Bank. The Bill has been circulated among various stakeholders for their views. III.