Dec field reports a positive signal for turnaround, says MFIN CEO

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Dec field reports a positive signal for turnaround, says MFIN CEO - Business Standard

Quick Summary:

The regulator has come down hard on some microfinance institutions (MFIs) that were found charging usurious rates to customers, who are predominantly in the bottom-of-the-pyramid segment.

Both these MFIs are members of MFIN.“As an SRO, we would like our members to be compliant with all RBI regulations and SRO guidelines and grow the business sustainably and transparently,” Misra said.

The report said the share of stressed assets in the microfinance sector increased in the April-September period of 2024-25, with 31-180 days past due rising to 4.3 per cent in September 2024 from 2.15 per cent in March 2024.