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The Microfinance Institutions Network ( MFIN ) has extended the deadline for adhering to the maximum three-lenders per borrower rule by another three months, people aware of the matter said. ET Year-end Special Reads Why these three sectors look promising for investors in 2025 18 top stock picks for 2025 from 6 leading brokers Buying a home in 2025? Here's how property market can shape up In the last week of November, the microfinance self regulator told its members to follow stricter lending principles in an effort to address the sector's asset quality stress. MFIN is one of the two self-regulatory organisations for the sector.
Sa-Dhan is the other one. MFIN had in November told its members to ensure that no borrower should have loans from more than three lenders from the beginning of 2025. It has now extended the deadline for this particular rule to the end of March.
Earlier in July, MFIN had put a cap of four lenders per borrower. The restriction on the number of lenders is aimed at reducing high indebtedness of borrowers and in turn, make the lenders overcome the severe asset quality stress that they are facing at present. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
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This includes maintaining a cap on outstanding loans of any borrower at Rs 2 lakh, including microfinance loans as well as unsecured retail loans. MFIN has also told its members to stop lending to delinquent customers who have overdue loans for more than 60 days with an outstanding amount exceeding Rs 3,000. The sector saw sharp asset quality deterioration with gross non-performing assets ratio rising to an 18-month high of 11.
6% at the end of September. (You can now subscribe to our Economic Times WhatsApp channel ).
