 "RBI")
A week after the Reserve Bank of India (RBI) announced some relief measures for microfinance institutions (MFIs), the lenders have urged the central bank to provide additional support.
In a letter to RBI Governor Shaktikanta Das, MFI association SaDhan has sought a special liquidity facility of at least Rs 15,000 crore to be provided by all-India financial institutions such as National Bank for Agriculture and Rural Development (NABARD) and Small Industries Development Bank of India (SIDBI). Of this, at least 40 per cent of the funds should go to MFIs with an asset size of Rs 500 crore.
The fresh rise in infections has resulted in loacalised lockdowns, adversely impacting the borrowers’ ability to pay back. “Due to increase in lockdowns and
