Although floods in several states have hit lending and loan recovery operations for these firms, they managed to put up a better show overall. Rural households with less than Rs 1 lakh annual income form a major portion of MFIs’ customer-base. About half the MFI loans are being used for producing basic consumption goods and not for purchasing aspirational items.from Banking/Finance-Industry-Economic Times https://ift.tt/34KKqhJ
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