BANKS GET WAIVER FOR MFI LOAN RECAST
The Reserve Bank of India granted a one-time waiver to banks for restructuring loans given to
micro finance institutions (MFI). Accordingly, these unsecured loans - restructured before March 2011 - will be treated as standard assets. The central bank has also asked banks to continue to lend to the MFI sector to ensure continuity of operations.
micro finance institutions (MFI). Accordingly, these unsecured loans - restructured before March 2011 - will be treated as standard assets. The central bank has also asked banks to continue to lend to the MFI sector to ensure continuity of operations.
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