Cap on Lending Rates to MFIs.

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....ap on Lending Rates to MFIs. <br>News and Press Release<br>Dated:- 20-12-2011<br><BR>Press Information Bureau Government of India Ministry of Finance 20-December-2011 17:41 IST Cap on Lending Rate....

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....s to MFIs As per Reserve Bank of India (RBI)'s Circular dated May 3, 2011, bank loans extended on or after 1st April, 2011 to MFIs have been given the status of priority sector advances subject to fu....

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....lfillment of certain conditions like 85% of total assets of MFIs being in the nature of qualifying assets, aggregate amount of loan extended for income generating activity not less than 75% of the tot....

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....al loans given by MFIs and compliance to pricing guidelines. The circular inter alia provides for margin cap at 12% and interest cap on individual loans at 26% per annum for all MFIs, no penalty for d....

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....elayed payment and no security deposit/margin to be taken. RBI has also reported that the micro finance sector has started witnessing some positive developments after it allowed the continuance of pri....

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....ority sector lending (PSL) status for bank loans to NBFC-MFIs in May this year. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to an Unstarre....

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....d Question in Rajya Sabha today. DSM/Hb<BR> News - Press release - PIB....