Budget 2020: MFI industry seeks more refinance from DFIs
Budget 2020: Microfinance institutions (MFIs) have urged the Centre for more refinance from development financial institutions (DFIs).
Budget 2020: Microfinance institutions (MFIs) have urged the Centre for more refinance from development financial institutions (DFIs) such as SIDBI and Nabard so that they can provide credit to the poor people at low rates of interest, an official said.
MFIs SOUGHT WITHDRAWAL OF GST
The industry has also sought withdrawal of GST on credit disbursements by banking correspondents (BC), which the micro-lenders do on behalf of banks, said P Satish, executive director of Sa-Dhan, an association of MFIs."We have requested the Centre that in the upcoming budget the government should allow more refinance by DFIs such as SIDBI and Nabard to the MFI sector," Satish told PTI''. Photo: Reuters
200-ODD MFIs WORK FOR BANKING CORRESPONDENTS
GST WITHDRAWAL FOR CREDIT TO THE POOR PEOPLE
MFIs DEMANDS FUND
FUNDING FOR WATER AND SANITATION PROJECTS
MFI HAS BEEN GROWING DESPITE A SLOW-DOWN
According to Sa-Dhan, the MFI industry has been growing well despite a slow-down in the economy.Harsh Srivastava, CEO of MFIN, another association, said that the microfinance industry is doing a lot of work towards promoting financial inclusion programme of the government."In the budget, we are seeking support for purchasing POS (point of sale) machines from the budget. They should be either subsidised or given free", he added. Photo: Reuters