RBI may review microfinance borrowers' income threshold: President Murmu
· Business · Business Standard
President Droupadi Murmu said the Reserve Bank of India may review the income threshold for microfinance borrowers if needed. She made the remark during the RBI's 90th foundation day celebrations in Mumbai on Friday. Murmu emphasized that microfinance has helped the poor and marginalised, particularly women. The RBI has been working on the microfinance self-regulatory framework, and the review could address industry concerns. The microfinance sector has seen rapid growth and increased scrutiny over repayment practices.
Why it matters
The potential income threshold review could directly affect the borrowing capacity and eligibility of millions of microfinance customers, particularly women in self-help groups who form the backbone of the sector.
Read the original report — Business Standard
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