India: Banks Agree to Reschedule Loans Given to MFIs

Jan 2011
India, January, 03 2011 - There could be some reprieve for microfinance institutions.

Banks have agreed to reschedule loans given to MFIs only after these companies decide to reschedule loans given to poor borrowers.

This was part of the restructuring proposal submitted by the banks to the RBI. Banks have proposed to restructure loans only on a case to case basis and not at an industry level.

The total exposure of banks to MFIs is expected to be around Rs 26,000 crore.

Source : Money control

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