Government, RBI Offer Relief To Microfinance Lenders Amid Covid-19 Crisis

Non-bank lenders are allowed to resume operations with bare minimum staff.

A woman receives a micro-loan during a meeting organized by SKS Microfinance Ltd. in Sadasivpet, India. (Photographer: Adeel Halim/Bloomberg)

India expanded its list to allow non-bank lenders to resume operations from April 20, aiming to kick-start the economy even as it extended the lockdown to contain the new coronavirus pandemic. Not only that, but the nation’s central bank also stepped in to boost liquidity and support the battered sector.

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