In March 2007, the unemployment rate was 4.4 percent. It rose slowly throughout 2007 to reach 5 percent by the end of the year. The National Bureau of Economic Research dates the Great Recession as having begun in that month. In the wake of the recession, the unemployment rate reached a peak of 10 percent in October 2009.
Ninth, what are the prospects for expanding the permission accorded by the RBI to the non-banking financial companies for offering credit and other financial services to not-for-profit companies? What are the prospects for creating a separate category of NBFC-MFIs to be regulated by RBI? Finally, should all the MFIs or only a select category out of them be permitted to accept public deposits?