Banks agree to reschedule loans given to MFIs

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.

January 03, 2011 / 22:12 IST

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.

first published: Jan 3, 2011 10:11 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347