 "Microfinance")
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.
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.
The development comes even as the banking regulator is in the final stages of issuing operational guidelines on the basis of the feedback to its “Consultative Document on Regulation of Microfinance”, released in June this year.
The document had proposed a
