Hit by lockdown, MFIs apprehensive for growth, likely to shelve expansion plans

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Press Trust of India Kolkata
Last Updated : Apr 06 2020 | 2:00 PM IST

The microfinance institutions
"The first quarter will certainly get affected as collections will fall in April and May because many borrowers will opt for the moratorium package."
Ruling out any possibility of retrenchment in the sector amid the threat that the economic growth will be adversely impacted due to COVID-19 crisis, Nambiar said, "The industry will need to retain their staff so that the collection and the recovery activities can start once the lockdown is over."
However, he said, "expansion plan of many institutions will either be put on hold for the time being or required to be tweaked as the MFIs will try to protect their existing portfolio and concentrate more on the steadying the ships."


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First Published: Apr 06 2020 | 2:00 PM IST