....The Reserve Bank of India has published guidelines for micro-financiers and set up a licensing system. Interest rates have been capped at 10-12 percentage points above lenders’ borrowing costs, after the rates they charged customers soared to 28-30% in 2010. And companies are barred from lending to anyone with more than one outstanding loan. The revival looks dangerous, however, as the new rules may not prevent old problems re-occurring......
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