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The Task Force on Micro Credit for the urban poor/informal sector held its first meeting under the Chairmanship of Secretary, Smt. Chitra Chopra with an objective to evolve formulations for a viable micro-credit mechanism for the urban poor/informal sector. Representatives from various Government Organisations including RBI, nationalised banks, NABARD, SIDBI, other private Financial Institutions/Rating Agencies, such as HDFC, ICICI and ICRA and Non-Governmental Organisations such as SEWA, DHAN Foundation, Dr. Reddy’s Foundation and SA-DHAN were present in the meeting.
After detailed deliberation, it was decided to seek briefs from all the task force members on the status of the activities undertaken by each one of them including specific interventions that have been undertaken to improve the quality of life of the urban poor as also the problems faced by them with possible solutions and recommendations. It was also decided to set up sub-committees to examine various thematic areas like product, structure, delivery mechanism, capacity building, possible financial sources/impediments in the flow of the funds as also the required regulatory and administrative support needed for formulating the viable micro credit mechanism for the urban poor.
HRK/SK
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