Microfinance stress not alarming, says RBI deputy governor Swaminathan
2 weeks, 4 days ago

Microfinance stress not alarming, says RBI deputy governor Swaminathan

Live Mint  

The Reserve Bank of India believes that the stress in microfinance loans is not alarming, deputy governor Swaminathan J said on Friday, even as data showed rising repayment delays by borrowers. At the end of June, 2.5 million microfinance borrowers had loans from five or more lenders each, up 17.2% from the same period last year, showed data from credit bureau Crif High Mark. The stress in micro loans comes nearly three years after the regulator removed pricing caps from microfinance institution loans, instead relying on these lenders to have policies that are approved by their boards. In March 2022, RBI said banks, non-banks and micro lenders must have a policy on pricing of microfinance loans.

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