Capping growth
12 years, 9 months ago

Capping growth

The Hindu  

The regulatory intervention by the RBI has not gone beyond providing a basic legal framework for the functioning of MFIs. The deregulation of micro-credit lending rates by banks has also ensured that they lend to MFIs at high interest rates of 15 to 17 per cent. As MFIs are allowed a margin cap of 12 per cent and an interest rate cap of 26 per cent under the present RBI guidelines, the burden of high interest rates is passed on to the poor. As a result, the banks are lending to MFIs at high interest rates of 15-17 per cent while fulfilling their priority sector lending commitments on paper. Though the RBI has set the interest rates of NBFC-MFIs at 26 per cent, the rates at which banks have been lending to MFIs have not been regulated.

India Financial Inclusion Interest Rates Rural Areas Poor Cent Rbi Banks Cap Madhya Pradesh High Interest Rates Frontline Lending Priority Sector Lending Nbfc Private Players 26 Per Cent Mfis Ramakumar 12 Per Cent Cheap Credit Direct Lending  rbi  capping  interest  rates  cap  growth  mfis  poor  cent  rate  lending  banks

History of this topic

NBFC sector strengthens with RBIs positive stance and rate cut support for growth: Jefferies
1 week ago

NBFC sector strengthens with RBIs positive stance and rate cut support for growth: Jefferies

Live Mint  

New Delhi, March 15 : The fundamentals of Non-Banking Financial Companies are showing signs of improvement as macroeconomic challenges ease and the Reserve Bank of India adopts a more supportive stance, according to Jefferies. Additionally, a recent 25-basis-point interest rate cut, along with potential future cuts, is expected to support net interest margins across the sector. NBFC exposure to MFI …

NBFCs gain fresh momentum as RBI eases bank lending norms
Trending News
3 weeks, 2 days ago

NBFCs gain fresh momentum as RBI eases bank lending norms

Live Mint  

The business environment is set to turn favourable for non-banking financial companies, thanks to two recent developments. A lower interest rate cycle benefits NBFCs relative to banks, as it erodes banks’ cost advantage from low-cost current and savings account deposits, allowing NBFCs to compete more effectively. Read this | Lower capital requirements for bank loans to NBFCs to ease funding …

Lower capital requirements for bank loans to NBFCs to ease funding woes
3 weeks, 2 days ago

Lower capital requirements for bank loans to NBFCs to ease funding woes

Live Mint  

The Reserve Bank of India’s decision to ease rules on bank loans to non-banking financial companies has been driven by a slowdown in credit flow to these entities, which have been facing a funding crunch amid systemic liquidity deficit and rising asset quality stress in small-ticket and microfinance loans, analysts said. The central bank had in November 2023 hiked risk …

RBI eases lending rules for small borrowers and NBFCs. Here's what it means
3 weeks, 3 days ago

RBI eases lending rules for small borrowers and NBFCs. Here's what it means

India Today  

The Reserve Bank of India has eased the stricter loan rules for small borrowers and non-bank lenders at a time when the economy is showing signs of slowing down. The RBI has also put on hold its earlier proposals to increase the capital that banks must set aside for new project loans and the liquidity they need to maintain for …

Bank credit grown steadily, SCBs seeing constant improvement in profitability: Economic Survey
1 month, 3 weeks ago

Bank credit grown steadily, SCBs seeing constant improvement in profitability: Economic Survey

The Hindu  

Bank credit has grown at a steady rate in the current financial year and there has been a consistent improvement in the profitability of Scheduled Commercial Banks as reflected in a fall in gross non-performing assets accompanied by a rise in the capital-to-risk weighted asset ratio according to the Economic Survey 2024-25 which was tabled by Union Minister of Finance …

MFI portfolio declines, bad assets spike in Sept qtr: Report
2 months, 2 weeks ago

MFI portfolio declines, bad assets spike in Sept qtr: Report

Live Mint  

Mumbai, Jan 8 Microlending outstandings in the system reduced 4.3 per cent to ₹4.14 lakh crore in the September quarter as lenders adopted a cautious stance amid deteriorating asset quality, a report said on Wednesday. Loans unpaid for 1-30 days increased to 2.1 per cent from the 1.2 per cent in June, while the ones unpaid for 31-180 days witnessed …

Share of stressed MFI assets, borrower indebtedness rises in H1: RBI report
2 months, 3 weeks ago

Share of stressed MFI assets, borrower indebtedness rises in H1: RBI report

Live Mint  

Mumbai: The share of stressed loans has risen in the microfinance portfolios of Indian lenders across ticket sizes, adding to concerns about the sector. In the first half of FY25, impairment among borrowers who had availed loans from multiple lenders and those with higher credit exposure remained high, reflecting the rise in borrower indebtedness, the report said. In the quarter …

Banking reforms need to get a lot more ambitious for the economy’s sake
3 months, 2 weeks ago

Banking reforms need to get a lot more ambitious for the economy’s sake

Live Mint  

The 19 amendments to banking laws that were passed by the Lok Sabha on Tuesday remove various niggles in extant provisions, straighten out some others and make life easier for bank customers, especially a tweak that allows four nominees per account. While more than 90% of India’s nearly 60 million MSMEs are micro sized and best served by specialized non-bank …

Rising Defaults Among Retail Borrowers are Stressing India’s Top Banks
4 months, 1 week ago

Rising Defaults Among Retail Borrowers are Stressing India’s Top Banks

The Quint  

Given that India’s economic growth relies heavily on domestic consumption, any slowdown in lending could ripple through the broader economy, impacting sectors dependent on consumer spending. Moreover, as banks shift their focus from retail to secured loans to mitigate risks, small and medium enterprises could face reduced access to capital, hindering job creation and slowing down economic expansion. In October, …

Microfinance risk: Small loans can spell big trouble for Indian banks
4 months, 1 week ago

Microfinance risk: Small loans can spell big trouble for Indian banks

Live Mint  

Once bitten twice shy" goes the old adage. Driven perhaps by the lack of credit demand from corporates, a boom in retail credit, an eagerness to bridge the last- mile gap in credit delivery and pressure to achieve priority-sector lending targets, banks seem to have lowered their guard and gone overboard in extending such loans. To its credit, the Reserve …

NBFCs Outpace Banks With 21% Deposit Growth In FY24
6 months ago

NBFCs Outpace Banks With 21% Deposit Growth In FY24

ABP News  

Non-bank lenders have increased their deposit base by 21 per cent in FY24, in contrast to the more modest 13.5 per cent rise experienced by banks, according to data from the Reserve Bank of India. The RBI's Handbook of Statistics on the Indian Economy reveals that the total public deposits held by NBFCs reached Rs 1.03 lakh crore by the …

NBFC lenders find borrowing a costly affair
11 months, 1 week ago

NBFC lenders find borrowing a costly affair

Live Mint  

MUMBAI : Non-bank lenders are struggling through a spike in borrowing costs as banks have become cautious in lending to them following a regulatory warning, forcing these companies to diversify their money sources. The Reserve Bank of India in November increased the risk weights on NBFCs by 25 percentage points, making their cost of borrowing from banks costlier by 30-50 …

Household income limit for micro loans should be raised to ₹5 lakh: NBFCs
1 year ago

Household income limit for micro loans should be raised to ₹5 lakh: NBFCs

Live Mint  

Non-banking finance companies and microfinance institutions want the Reserve Bank of India to reexamine the threshold relating to annual household income limit for giving micro loans. The last time criteria relating to the annual household income limit for giving microloans to individual borrowers was revised was in 2022, when it was upped from ₹1.25 lakh in rural areas and ₹2 …

Govt explores steps to boost affordable NBFC loans
1 year, 4 months ago

Govt explores steps to boost affordable NBFC loans

Live Mint  

The Centre is exploring options such as increasing the deposit acceptance limit for eligible non-banking finance companies, introducing deposit insurance and creating a specific liquidity window for NBFCs, according to two officials. The goal is to lower funding costs, enabling NBFCs to offer loans to crucial sectors such as agriculture and micro, small, and medium enterprises, at more affordable interest …

RBI tightens norms for personal loans and credit cards, raises capital requirements
1 year, 4 months ago

RBI tightens norms for personal loans and credit cards, raises capital requirements

Live Mint  

The Reserve Bank of India on Thursday tightened norms for personal loans and credit cards in the form of higher capital requirements. The new norms will make personal loans and credit cards costlier and may curb growth in these categories. The central bank has raised the risk weights for lenders and non-bank financial companies, or the capital that banks need …

Banks’ margin party is drawing to a close
1 year, 8 months ago

Banks’ margin party is drawing to a close

Live Mint  

The stellar rebound in India’s banking sector performance has been in focus in the recent quarters. Much of this is owing to the robust systemic bank credit growth and the sharp rise in lending rates, resulting in a significant improvement in the net interest margins of banks in the backdrop of RBI’s monetary tightening. As per RBI data, SCBs’ weighted …

Microfinance portfolio grows 21% in FY23, shows Sa-Dhan data
1 year, 9 months ago

Microfinance portfolio grows 21% in FY23, shows Sa-Dhan data

Live Mint  

India’s microfinance sector has recorded an overall portfolio growth of 21% during 2022-23, as per data from industry body Sa-Dhan. Except for banks, all other institutions recorded double-digit growth, with non-banking financial companies recording a 49% growth and NBFC MFIs growing 37%. According to Jiji Mammen, executive director and chief executive of Sa-Dhan, the microfinance sector has shown significant performance …

Microfinance lenders should not charge usurious rates of interest, RBI says in revised norms for the sector
3 years ago

Microfinance lenders should not charge usurious rates of interest, RBI says in revised norms for the sector

The Hindu  

The Reserve Bank of India on Monday allowed microfinance institutions the freedom to set interest rates they charge borrowers, with a caveat that the rates should not be usurious. As per the revised norms, regulated entities should put in place a board-approved policy regarding pricing of microfinance loans, a ceiling on interest rate and all other charges applicable to microfinance …

MFIs should balance social goals with growth: RBI Deputy Governor M Rajeshwar Rao
3 years, 4 months ago

MFIs should balance social goals with growth: RBI Deputy Governor M Rajeshwar Rao

Deccan Chronicle  

Mumbai: Reserve Bank of India deputy governor M. Rajeshwar Rao on Wednesday said lenders in the microfinance sector while chasing higher loan growth and returns, should refrain from adverse actions such as over-indebtedness, harsh recovery practices and harassment of customers, which would undo the tremendous progress achieved by the sector in financial inclusion over the decades. “The roots and origin …

RBI microfinance proposals that are anti-poor
3 years, 5 months ago

RBI microfinance proposals that are anti-poor

The Hindu  

In June 2021, the Reserve Bank of India published a “ Consultative Document on Regulation of Microfinance ”. The recommendations The consultative document recommends that the current ceiling on rate of interest charged by non-banking finance company-microfinance institutions or regulated private microfinance companies needs to be done away with, as it is biased against one lender among the many. Not …

MFIs may get to set interest rates
3 years, 9 months ago

MFIs may get to set interest rates

Hindustan Times  

Microfinance institutions may get freedom to set interest rates guided by a board-approved policy, under a Reserve Bank of India proposal to review the regulatory framework governing them. The proposal, if implemented, will end the existing regulatory cap on MFI interest rates. However, while doing so, they should ensure usurious interest rates are not charged,” The RBI said in its …

Central bank to review rules as Assam eyes curbs on MFI ops
4 years, 1 month ago

Central bank to review rules as Assam eyes curbs on MFI ops

Live Mint  

The Reserve Bank of India’s decision to look at a uniform regulatory framework for all microfinance lenders, though being discussed for more than five years now, has been brought into focus by an Assam government bill to regulate microlenders in the state, experts said. Uniformity in rules has been sought since Bandhan Financial Services turned into a bank in 2015 …

MFs piled on private lenders in Aug
4 years, 6 months ago

MFs piled on private lenders in Aug

Live Mint  

Mumbai: Despite fears of defaults and end of the moratorium period, private banks were strong favourites among fund managers in August after hitting a 22-month low in July, while net outflow from equity schemes surged to a 10-year high, data for India’s top 20 mutual fund houses showed. The increase in exposure to private banks by mutual funds may have …

Microfinance institutions ask RBI for exemption from overdraft restrictions
4 years, 6 months ago

Microfinance institutions ask RBI for exemption from overdraft restrictions

Deccan Chronicle  

Chennai: Microfinance institutions have requested the Reserve Bank of India to exempt them from restrictions on current account and overdraft facility extended by banks as the new guidelines would create operational difficulties for them. The RBI had restricted banks from opening current accounts for customers who have availed cash credit or overdraft facilities. Though loan disbursements of MFIs are through …

Slowing credit offtake one of major challenges for banks: RBI Governor
5 years ago

Slowing credit offtake one of major challenges for banks: RBI Governor

India TV News  

Reserve Bank Governor Shaktikanta Das on Monday said slowing credit growth is one of the major challenges that banks are facing currently. "Slowing credit offtake is one of the challenges that banks are facing," Das said at the Mint annual banking conclave here. Speaking about NBFCs, he said that credit flow to small NBFCs have improved over the last one …

Slower growth seen for NBFC-MFIs
5 years, 4 months ago

Slower growth seen for NBFC-MFIs

Deccan Chronicle  

Chennai: Despite RBI increasing the lending limit for individual borrowers and households, industry observers project a slower growth for micro finance institutions in FY20 compared to FY19. Though growth could pick up in the subsequent quarters, it will limit the yearly growth below last year’s levels,” said Rajat Bahl, Chief Analytical Officer and Head-Financial Institutions, Brickwork Ratings. The YoY growth …

Microfinance lending limit raised to Rs 1.25 Lakh
5 years, 5 months ago

Microfinance lending limit raised to Rs 1.25 Lakh

Deccan Chronicle  

Chennai: The RBI has increased the household income limit as well as the lending limit per borrower for NBFC-MFIs, thus providing a potential for around 25 per cent incremental growth. The household income limit for borrowers of NBFC-MFIs has been increased from the current level of Rs 1 lakh for rural areas and Rs 1.60 lakh for urban/semi urban areas …

RBI increases lending limit of MFIs to ₹1.25 lakh
5 years, 5 months ago

RBI increases lending limit of MFIs to ₹1.25 lakh

The Hindu  

The Reserve Bank of India has raised the lending cap for microfinance institutions to ₹1.25 lakh, against the earlier limit of ₹1 lakh, to improve credit availability in rural and semi-urban areas. It has also been decided to “increase the household income limit for borrowers of non-banking financial companies-micro finance institutions from the current level of ₹1 lakh for rural …

FM Nirmala Sitharaman directs banks, NBFCs to focus on increasing credit outgo in 400 districts
5 years, 6 months ago

FM Nirmala Sitharaman directs banks, NBFCs to focus on increasing credit outgo in 400 districts

Live Mint  

To increase credit disbursement during the ongoing festive season, finance minister Nirmala Sitharaman on Thursday directed commercial banks and non-banking financial companies to reach out to customers across 400 districts in two phases before 15 October. Besides, Sitharaman asked banks not to declare stressed assets of MSMEs as non-performing asset till 31 March 2020, invoking the existing guidelines of the …

Bank can lend more to Non Banking Finance Companies
5 years, 7 months ago

Bank can lend more to Non Banking Finance Companies

Deccan Chronicle  

Mumbai: To enhance credit flow to the crisis hit Non Banking Finance Companies sector, the Reserve Bank of India on Wednesday announced a slew of measures. On the same lines, in order to boost consumption, the central bank also reduced the risk weights for consumer loans such as personal loans, auto loans to 100 per cent from 125 per cent. …

Opinion | Need a strategy that goes beyond interest rates
5 years, 7 months ago

Opinion | Need a strategy that goes beyond interest rates

Live Mint  

The factors that are slowing growth are piling up. Simply put, the liquidity problems in India’s non-banking financial companies are not going away any time soon, and gross domestic product growth is slowing due to a long list of domestic and international challenges. “Credit-less” recoveries are generally considered rare around the world given that it’s hard to fund growth without …

Centre to bailout NBFCs for now
5 years, 8 months ago

Centre to bailout NBFCs for now

Deccan Chronicle  

Mumbai: The government announced a host of credit and tax measures in the Union Budget 2019-20 to ease the stress in India’s non-banking finance companies and prevent a full-blown crisis. The Budget announced that to enhance liquidity access for the sector, the government will provide one-time six-month partial guarantee of `one lakh crore to state-run banks for purchasing consolidated high-rated …

MFIs stay resilient to liquidity crisis
5 years, 9 months ago

MFIs stay resilient to liquidity crisis

Deccan Chronicle  

Chennai: The liquidity crisis in the non-banking finance company sector does not seem to have affected the microfinance institutions in this space. The segment has clocked over 40 per cent growth in gross loan portfolio in FY19. Data collated by industry body MFIN India shows the aggregated gross loan portfolio of 53 large and medium NBFC-MFIs, as on March 31, …

Microfinance industry posts 38% growth in 2018-19; total number of accounts stands at 9.33 crore
5 years, 9 months ago

Microfinance industry posts 38% growth in 2018-19; total number of accounts stands at 9.33 crore

Firstpost  

The total number of microfinance accounts was 9.33 crore at the end of March 2019, showing a growth of 21.9 percent, said Microfinance Institutions Network New Delhi: The microfinance industry’s gross loan portfolio stood at Rs 1,87,386 crore at the end of March, up 38 percent year-on-year, said an MFIN report Monday. The total number of microfinance accounts was 9.33 …

Federal Bank to avoid lending to lower-rated NBFCs, says Shyam Srinivasan
5 years, 10 months ago

Federal Bank to avoid lending to lower-rated NBFCs, says Shyam Srinivasan

Live Mint  

Mumbai: Kerala-based private sector lender, Federal Bank is now more cautious than ever on lending to the non-banking financial companies. Following the defaults and liquidity crunch in the sector, the bank has decided not to renew credit lines to low-rated NBFCs, managing director and chief executive officer Shyam Srinivasan said in an interview. To be sure, the bank’s total risk-weighted …

Microfinance industry posts 43% growth in loan portfolio to Rs 1.66 lakh cr in December quarter: Report – Firstpost
6 years ago

Microfinance industry posts 43% growth in loan portfolio to Rs 1.66 lakh cr in December quarter: Report – Firstpost

Firstpost  

Microfinance industry posted 43.1 percent growth in December quarter 2018 as compared to the year-ago period, with a total loan portfolio of Rs 1,66,284 crore, a report by MFIN said on Monday New Delhi: Microfinance industry posted 43.1 percent growth in December quarter 2018 as compared to the year-ago period, with a total loan portfolio of Rs 1,66,284 crore, a …

Banks may see fresh NPAs of up to ₹2 trillion over next one year
6 years, 1 month ago

Banks may see fresh NPAs of up to ₹2 trillion over next one year

Live Mint  

Banks could see an addition of fresh bad loans worth ₹1.5-2 trillion over the next one year, credit rating agency India Ratings said. The India Ratings report also said competition for deposits will intensify in fiscal year 2020 as borrowings for banks remain high despite weak credit growth. Separately, the ratings agency also reported a negative outlook on non-banking finance …

Central bank’s MSME loan recast to help lower lenders' credit cost; move to improve fund flow to sector: Report
6 years, 2 months ago

Central bank’s MSME loan recast to help lower lenders' credit cost; move to improve fund flow to sector: Report

Firstpost  

The report, however, said the restructuring scheme may encourage some MSME borrowers, who are otherwise operating satisfactorily, to opt for the scheme and thus impair the credit discipline. Mumbai: The Reserve Bank of India’s special loan restructuring scheme for stressed but standard Micro, Small and Medium Enterprises accounts may give some relief to the lenders on their bad loan recognition …

Microfinance industry clocks over 50% growth in Q2 with GLP standing at Rs 1,46,741 crore
6 years, 3 months ago

Microfinance industry clocks over 50% growth in Q2 with GLP standing at Rs 1,46,741 crore

India TV News  

Microfinance industry recorded a growth of 51 per cent year-on-year in the second quarter of 2018-19 with total Gross Loan Portfolio standing at Rs 1,46,741 crore, said a report Monday. While the total number of active microfinance accounts for the overall industry was at 7.77 crore with a growth of 27 per cent, NBFC-MFIs witnessed a growth of 32.9 per …

RBI, Modi govt trying to reach common ground on easing of lending norms for MSME sector, other key issues
6 years, 4 months ago

RBI, Modi govt trying to reach common ground on easing of lending norms for MSME sector, other key issues

India TV News  

The government and Reserve Bank seem to be veering around to reach an agreeable solution particulary with respect of relaxation of the Prompt Corrective Action framework and easing of lending norms for the MSME sector ahead of the RBI board meeting on November 19, sources said. The RBI is also likely to agree to easing of lending norms for the …

The need for a boost to MSME sector
6 years, 4 months ago

The need for a boost to MSME sector

Live Mint  

Prime Minister Narendra Modi’s Diwali package for micro, small and medium enterprises may be late in the day, but it’s nevertheless a boon, particularly the interest subvention and the measures to see that bills are paid on time. According to the MSME Pulse report, for public sector banks, the level of non-performing assets among MSMEs went up from 13% in …

NBFCs seek new funding routes to tide over liquidity crunch
6 years, 4 months ago

NBFCs seek new funding routes to tide over liquidity crunch

Live Mint  

Mumbai: Non-banking finance companies and home financiers are approaching private equity funds and overseas debt markets to raise long-term capital because of a liquidity crunch and rising cost of capital in India. “In the few months, on account of Reserve Bank of India hiking the repo rate by 50 basis points and tight liquidity conditions, CP rates have shot up …

Imminent NBFC slowdown could lead to credit crunch
6 years, 5 months ago

Imminent NBFC slowdown could lead to credit crunch

Live Mint  

Mumbai: The imminent slowdown in credit growth of non-banking financial companies could lead to a credit crunch in India, with overall system credit growth falling to less than 10%, Credit Suisse said in a report. Even as bank credit growth in the last two years has averaged at 7%, a strong 20%+ growth in NBFC credit aided overall credit expansion …

RBI: MSME credit growth slowed during note ban
6 years, 7 months ago

RBI: MSME credit growth slowed during note ban

Live Mint  

Mumbai: Credit growth in the micro, small and medium enterprise sector, which had started slowing even before demonetisation, declined further during the demonetisation phase, a Reserve Bank of India study said on Friday. By contrast, the rollout of the goods and services tax does not seem to have had any significant impact on credit, RBI’s Mint Street Memo ‘How have …

Signs of revival in rural economy turn lender bullish on Indian villages
7 years ago

Signs of revival in rural economy turn lender bullish on Indian villages

Hindustan Times  

The recovery in India’s rural economy is likely to curb bad loans and boost profit at financial companies that specialize in credit to the country’s villages, according to one of the biggest such lenders. Mahindra & Mahindra Financial Services Ltd., which offers loans for equipment and vehicles in 330,000 of India’s roughly 600,000 villages, is seeing business growing and bad …

Gross loan portfolio for MFIs rises 8% to Rs35,045 crore in June quarter: report
7 years, 7 months ago

Gross loan portfolio for MFIs rises 8% to Rs35,045 crore in June quarter: report

Live Mint  

Mumbai: The gross loan portfolio of micro loans at the end of the June quarter stood at Rs1.06 trillion, according to a Microfinance Institutions Network report released on Tuesday. Of this, banks, micro finance institutions and small finance banks hold 36%, 31% and 27% share, respectively. MFIN, a self-regulatory body that keeps track of close to 65 institutions registered with …

Demonetisation: MFIs could witness up to Rs 1,700 cr in losses following the move, says Bandhan Bank CEO
8 years, 4 months ago

Demonetisation: MFIs could witness up to Rs 1,700 cr in losses following the move, says Bandhan Bank CEO

India TV News  

The government’s decision to demonetise high-value currency notes will take its toll on the microfinance industry and could lead to losses in the range of Rs 1,500 crore to Rs 1,700 crore, Chandrashekhar Ghosh, CEO of Bandhan Bank, has said. Meanwhile, rating agency India Ratings and Research on Thursday said microfinance institutions may experience high overdues. The agency's analysis shows …

RBI issues final norms for payment and small finance banks
10 years, 3 months ago

RBI issues final norms for payment and small finance banks

India TV News  

Mumbai: Introducing a new concept of niche banking in India, the Reserve Bank of India has issued final norms for payment banks and small finance banks that would allow mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses. Among others, existing NBFCs and micro finance lenders would be allowed to …

NBFCs gear up to seek licence as RBI set to tweak norms on small banks
10 years, 4 months ago

NBFCs gear up to seek licence as RBI set to tweak norms on small banks

Firstpost  

Given the RBI’s focus on financial inclusion, smaller banks with local knowledge and operational experience can do much more to financially include the unbanked than full service banks The Reserve Bank of India’s plan to permit the proposed small banks to operate nationwide,albeit in a limited scale, can be the real game changer for India to push its agenda of …

Microfinance institutions showing signs of maturity
10 years, 9 months ago

Microfinance institutions showing signs of maturity

Live Mint  

Alok Prasad, chief executive officer of the Micro Finance Institutions Network, a lobby group for India’s ₹ 30,000 crore microfinance industry, is a happy man. RBI’s decision to give MFin SRO status is the culmination of a process that started in 1998 when the National Bank of Agriculture and Rural Development set up a task force for framing regulations for …

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