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Microfinance attracts renewed attention after RBI's interest rate cap move

Within months of the RBI lifting the interest rate cap on such loans, the industry is seeing a steady rise in borrowing, especially among women in some of India's poorest districts

Topics
Reserve Bank of India | Microfinance

Subhomoy Bhattacharjee  |  New Delhi 



Typical microfinance borrowers are families with monthly income of Rs 25,000 or less. (BS Photo)
Typical microfinance borrowers are families with monthly income of Rs 25,000 or less. (BS Photo)

Mamta Devi, a resident of Ranti village in Madhubani, makes a living selling her paintings of the famous art synonymous with the name of the district. This morning she is sitting in a group of 10 women taking out a loan of Rs 25,000 to finance her work.

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First Published: Mon, January 23 2023. 18:21 IST

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