Microfinance Firms in Turmoil as Collections Come to a Grinding Halt

Source: Business Line

The lockdown has brought the collection operations of microfinance institutions (MFIs) to a halt, as about 95 percent of the loan repayments are still done through cash. Since loan officers meet in person and collect the payments from borrowers, the lockdown has put a freeze on loan collections, hurting MFIs.

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