India: MFIs Set to Resume Operations in Orange, Green Zones

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May 2020
India, May, 04 2020 - Nearly 88 lenders belonging to the micro-finance industry are making preparations to resume operations in green and orange zones, the Microfinance Institutions Network (MFIN) said on Monday.

The lenders will adhere to all health and safety precautions related to COVID-19, the industry body of MFIs said in a statement.

It, however, did not specifiy when the MFIs would resume operations.

The lenders have also agreed to extend the three-month moratorium provided by the RBI on term loans to borrowers, the statement said, adding, collections will be made only from customers who have opted out of it.

Demand for micro-finance will increase once MFIs start full-fledged operations after the lockdown is lifted, the MFIN said.



 

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