.......However, there has been a cloud over microfinance groups, especially after a spate of suicides by women in Andhra Pradesh who were unable to withstand the coercive recovery methods. This is when the Reserve Bank of India stepped in and decided to grant the status of self-regulatory organisations (SRO) to industry associations of microfinance institutions operating as non-banking financial companies. The move is to make sure that these institutions follow prescribed guidelines.................
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