RBI: Microfinance institutions want more from RBI : vimarsan

RBI: Microfinance institutions want more from RBI


Synopsis
Industry association Sa-Dhan has sought an emergency credit line for their members of up to 25% of their outstanding loans with lending Banks.
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With more people in rural pockets getting infected compared to what was seen last year, the lenders to the grassroots have turned cautious in business expansion.
Anticipating fresh erosion of collection efficiency and liquidity following the catastrophic second wave of the coronavirus pandemic, the microfinance sector has lobbied for further financial assistance from the Reserve Bank of India.
Industry association Sa-Dhan has sought an emergency credit line for their members of up to 25 per cent of their outstanding loans with lending Banks. MFIs would be able to mobilize Rs 15,000 crore if this is implemented.

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