Kolkata: Bandhan Financial Services, a micro-finance institution (MFI) set to turn into a bank soon, has been invited to attend the meetings of State Level Bankers' Committee held at regular intervals.
Bandhan chairman C S Ghosh told PTI that West Bengal Finance Minister Amit Mitra had asked him to attend the meeting or send a representative.
This is the first time that any MFI has been asked to attend such meetings. State Level Bankers' Committee (SLBC) meetings are generally attended by bankers and state government officials to deliberate on the amount of credit flow that the banks are doing.
From now on, bankers would have to give reports on the extent of credit flow to MFIs at SLBC meets, Ghosh said, adding that targets would also be set regarding this.
Bandhan, which got the in-principle approval from RBI to start banking activity in April 2014, is now waiting for the final license from the regulator.
The MFI had been given 18 months time to start banking activities.
