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MFIs want Rs 3 lakh as loan cut-off to widen scope of eligible borrowers

If the RBI agrees to this suggestion, 50 million MFI customers will join the current net of 60 million and an outstanding portfolio of Rs 2.45 trillion

Topics
MFIs | microfinance institutions | loan

Raghu Mohan  |  Mumbai 

Microfinance
The move shall align the threshold to the definition for the ‘economically backward class’ under the Pradhan Mantri Awas Yojana

Micro-finance institutions (MFIs) want the Reserve Bank of India (RBI) to hike the qualifying threshold of inflation-adjusted household income for taking loans to Rs 3 lakh a year to widen the scope of eligible borrowers.

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First Published: Mon, December 13 2021. 02:05 IST
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