Microfin industry close to being 100% insured sector

.....The Reserve Bank of India (RBI) does not allow the MFIs to collect any commission from clients. However, Irda allows MFIs to receive administrative fees, capped at two per cent, for distribution of products from insurance companies, according to Samit Ghosh, president of MFIN. “We are contemplating writing to Irda to increase the limit of administrative fee, as the cost of operations is quite high,” said Ghosh...........

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