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Daily Archives: March 15, 2022

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Microfinance Loans: RBI issues Master Direction 2022 for Regulatory Framework

Loans and advancesBy Surendra NaikMarch 15, 2022

A microfinance loan is defined as a collateral-free loan given to a household having annual household income up to Rs300000 (Rupees Three Lakhs). For this purpose, the household shall mean an individual family unit, i.e., husband, wife, and their unmarried children. The collateral-free loan under microfinance shall be irrespective of end-use and mode of application/…

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