MFIs TO INCREASE LOAN TENURE UP TO 100 WEEKS
Micro finance Institutions (MFIs) have agreed to restructure loans from 50 weeks to 75 or even 100
weeks for those who find it difficult to repay the same, according to Micro finance Institutions'
Network (MFIN) president, and founder of Basix, Vijay Mahajan. The interest rates, however, would
be only for 50 weeks. The five members of MFIN- who account for 60 per cent of all loans disbursed
have agreed to restructure the loans. These members are SKS, Spandana, Basix, Share and Trident. More members are expected to follow suit.
weeks for those who find it difficult to repay the same, according to Micro finance Institutions'
Network (MFIN) president, and founder of Basix, Vijay Mahajan. The interest rates, however, would
be only for 50 weeks. The five members of MFIN- who account for 60 per cent of all loans disbursed
have agreed to restructure the loans. These members are SKS, Spandana, Basix, Share and Trident. More members are expected to follow suit.
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