Govt working on Bill for Micro-finance

NEW DELHI: The Government is working on a Bill for Micro-finance to ensure greater credit availability for the poor and for small enterprises, Prime Minister Manmohan Singh said here on Thursday.

"We are working on a Bill for Micro-finance institutions to help create a friendly policy environment for micro-finance services," Singh said addressing the inaugural function of a three-day conference on home-based workers in the South Asian region.

Noting that credit availability was next in importance only to skill development of workers, he said micro-finance has become an important instrument in ensuring credit reaches the poor and the tiny enterprises.

"These must reach the poor in far greater number and build their capabilities to absorb higher amount of credit," Singh said.

The Prime Minister said the government will try to facilitate various models of delivering micro-finance so that the services grow faster.