Decodifying New Requirements for Micro-Loans

On March 14, 2022, the Reserve Bank of India (RBI) has changed the rules of the game for Microfinance Industry which are effective from April 1, 2022. The New Norms will create a level playing field for banks and other financial institutions on microfinance lending which will intensify the competition amongst themselves and will push financial inclusion who have not yet access to formal financial channels.