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Asian Journal of Research in Banking and Finance
Year : 2012, Volume : 2, Issue : 9
First page : ( 29) Last page : ( 40)
Print ISSN : 0000-0000. Online ISSN : 2249-7323.

Functioning of UIBS (Registered moneylenders) In manipur: A growing purveyor of credit

Singh Kshetrimayum Ranjan

Faculty of Accounting and Management, Department of Computer Science, Manipur University, Canchipur, Imphal-795003

Online published on 7 September, 2012.

Abstract

With the monetization of the economy, we are in need of mediator between those people who have surplus money and those people who are in need of money. The role of this mediator may be either from organized as well as unorganized sector. In India, with the characteristics of dualism, we have banks and financial institutions in the organized sector and moneylenders, saving clubs, pawn brokers, NBFCs, etc. in the unorganized sector. With the initiatives of RBI, NBFCs are trying to bring into the fold of organized financial sector with the introduction of many regulatory measures. Though we have strong networking of organized banking and financial institutions, the role of various players in the unorganized sector cannot be neglected. A large population of the country is still depending for their credit needs on the players in the unorganized sector. In the present paper, an initiative has been taken up to study the functioning of Unincorporated Bodies (UIBs) engaged in financial activities with special reference to their nature of services, their complementary role in the economy, nature of their customers/beneficiaries, reasons for opting their services, their regulatory measures, organized bankers view on them, etc.

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Keywords

Credit, Informal Financial System, Formal Financial System.

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