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CGD Policy Blogs

 

Turf War over Deposit-Taking in India

After the crisis broke in Andhra Pradesh, many observers regretted that India's microfinance industry was legally confined to making loans. Many poor people would rather save than borrow because, when done right, savings is safer. In the Huffington Post, Elisabeth Rhyne went further. The inability to take savings not only deprived poor people of a valuable option; it contributed to the crisis on the credit side:

Finance Minister: Bangladesh Government Will Not Take Ownership Control of Grameen Bank

This weekend, the dignitaries of public finance gathered in Washington for the annual meetings of the World Bank and IMF. On Monday morning, the U.S. Bangladesh Advisory Council and the Trade, Aid, and Security Coalition, and the Asia Society took advantage of the presence of Bangladesh's finance minister, A.M.A. Muhith, and central bank governor, Atiur Rahman, hosting them for a public discussion.

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