Microfinance attracts renewed attention after RBI's interest rate cap move

Within months of the RBI lifting the interest rate cap on such loans, the industry is seeing a steady rise in borrowing, especially among women in some of India's poorest districts

Subhomoy Bhattacharjee | New Delhi
Last Updated at January 23, 2023 21:49 IST

Typical microfinance borrowers are families with monthly income of Rs 25,000 or less. (BS Photo)

Mamta Devi, a resident of Ranti village in Madhubani, makes a living selling her paintings of the famous art synonymous with the name of the district. This morning she is sitting in a group of 10 women taking out a microfinance loan of Rs 25,000 to finance her work.

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