Indian MFIs See 50% Recovery in June as Rural Borrowers Avoid Using Moratorium
Despite the moratorium, rural customers of most microfinance institutions (MFIs) are steadily clearing their dues. Most MFIs are expecting more than 50 per cent recovery in the month of June, mostly backed by rural repayments.
Income from the harvesting season, along with the essential nature of rural occupations, has helped rural borrowers become more resilient to the Covid-19-induced economic slowdown.
Photo courtesy of Shameer Pk.
Source: Business Standard (link opens in a new window)
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