![Microfinance causing 'debt trap', 'harsh recovery'; needs stringent regulations: RBI Dy Guv](https://images.assettype.com/fortuneindia%2F2021-10%2F9226dea5-229a-4653-af4c-1806980d98e4%2FRBI_pic.jpg?w=300&q=95)
Microfinance causing 'debt trap', 'harsh recovery'; needs stringent regulations: RBI Dy Guv
MFIs that account for 70% of loan portfolio not guided by regulations meant to protect customers, says deputy governor Rajeshwar Rao.
MFIs that account for 70% of loan portfolio not guided by regulations meant to protect customers, says deputy governor Rajeshwar Rao.
The central bank unveils liquidity facility of ₹50,000 crore for access to emergency health services, and ₹10,000 crore for small finance banks’ on-lending, among a slew of measures to fight Covid-19.