Microfinance industry association Sa-dhan has reached out to Prime Minister Narendra Modi seeking an extension of the loan moratorium benefits to the industry.

In 2010, when the microfinance crisis broke out in the southern state of Andhra Pradesh, banks with high exposure to Micro Finance Institutions (MFIs) witnessed a devastating phase.

As the Reserve Bank of India announced relief measures for the common man to deal with coronavirus, several banks have come out with their explanations on what will the impact on the EMIs for the customers if they opt for deferring the EMIs by three months. Here is an FAQ by HDFC Bank, explaining how the stipulation by RBI will impact its customers.

KOLKATA: The microfinance institutions (MFIs), which are currently feeling the pinch of the coronavirus pandemic with their operations being suspended during the nationwide lockdown, are concerned about the near- term growth of the industry, officials said on Monday.

50 nations promised cash to fight Covid-19, but few, like India and Bangladesh, are doing it right. India’s trinity of Jan Dhan, Aadhaar, and mobile communications — or JAM — can work wonders if it is used extensively to reform citizen–state engagement.

Paytm, India’s largest digital payments and financial services company has entered into a strategic partnership with Indian Oil Corporation Limited to enable digital transactions across its fueling stations as well as LPG cylinder delivery ecosystem.