India: RBI to amend norms governing NBFC-MFIs
After the Andhra Government passed a law putting restrictions on lending and recovery by MFIs in late 2010, small value loans aggregating about INR 75 billion turned sour, entailing huge provisioning. Consequently, the Central Bank of India, the Reserve Bank of India will relax some prudential norms governing the NBFC-MFIs, according to a top central banker. Read more here.
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