MFIN HAS EXTENDED DEADLINE LIMITING MAXIMUM OF LENDERS PER BORROWER
News: Microfinance Institutions Network (MFIN) has extended deadline limiting maximum of lenders per borrower to three till April 2025. Other guidelines, such as capping outstanding loans at ₹2 lakh per borrower and halting lending to delinquent customers, took effect from January 1, 2025.
Views: While this extension provides microfinance institutions additional time to comply with the new regulation, it might delay the process of recognition and reporting delinquencies in the book.
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