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Friday, October 04, 2019

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RBI’s decision to increase the household income and the lending limit for microfinance borrowers

The quote from Mr. Manoj Nambiar, Chairperson, MFIN on the RBI Policy.

“MFIN welcomes RBI’s decision to increase the household income and the lending limit for microfinance borrowers.  

This is a good move reflecting the change in household income since 2015 and allows clients to avail a higher loan amount from RBI regulated formal financial institutions. 
Mr. Manoj Nambiar,
Chairperson, MFIN

Besides this change it will be a win-win situation for the lender and the borrower by providing more room to individual NBFC-MFIs to lend and allow more households access credit. 

The microfinance lenders will use this increased limit to continue to lend responsibly to the over 50 million borrowers and contribute to financial inclusion.”


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