...."The new norm is not practical and will make MFIs unviable," said MFIN chief executive Alok Prasad. "We have taken up the matter with RBI as the operating cost for most MFIs in the country is still high despite being part of the most efficient MFI system in the world. It will be difficult to bring down the cost immediately." Prasad said Indian companies offer micro loans at the cheapest interest rates.......
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