Legislation on microfinance likely in budget session

The Centre will bring in a legislation during the budget session to regulate microfinance in the country.

"We will be coming out with a comprehensive legislation on microfinance in the Budget session," Minister of State for Finance Pawan Kumar Bansal said today.

The government's approach to microfin-ance was flexible and the proposed legislation would support the microfinance institutions, he said addressing a gathering at the Banking Conclave'07, organised by the Symbiosis Centre for Management and HRD here.