Monday, August 25, 2014

50% of microfinance institutions could convert to banks: regulatory body CEO

............Alok Prasad, CEO, MFIN, said about half of the members could graduate to become banks. Such a move will give them an opportunity to also provide liability (deposit) products and money transfer services in addition to the existing business of providing short duration collateral-free loans for small amounts and third-party products such as micro-insurance to the poor.............

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