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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