To stop the poor being exploited, by Micro Finance lending organization, the government has instructed the banks to ensure that the interest charged to the final borrowers is restricted to 24% p.a. At present the Micro Finance organizations charge any where between 30 -48% p.a. While analyzing the IPO of SKS micro,FIRST CHOICE had indicated that the interest are bound to be regulated by the government. The same has come true.
MICRO FINANCE LENDING - GOVERNMENT STEPS IN(1 post)
Posted 6 years ago #
You must log in to post.