The demonetisation move may hit the micro finance sector hard, said Bandhan Bank CEO Chandrashekhar Ghosh, estimating the temporary loss to be around Rs 1,500-Rs 1,700 crore. Bandhan Bank, which was one of the largest micro finance institutions before it became a bank last year, has suspended its…
Tag: Micro Finance Institutions (MFIs)
Government says Mudra loans not under high bad debts
The government has sought to allay fears that loans extended under the Mudra scheme, particularly those given through Micro Finance Institutions (MFIs), would add to bad debts in the lending system. There were apprehensions that these unsecured loans carried high risks. Mudra loans are given to t…