Worried over microfinance institutions’ future profitability, banks want to diversify their risks by lending to the sector in a consortium. Leading bankers are meeting Reserve Bank of India Deputy Governor Shyamala Gopinath on Wednesday to make a case for consortium lending. Banks have discussed the proposal informally with the finance ministry. “Several issues, including debt restructuring of microfinance institutions, are to be discussed,” said a senior finance ministry official involved in the discussions. “RBI has so far supported the stance on consortium lending.”
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