Anti-CAA protests in Assam: MFIN asks RBI forbearance for extended payments

The anti-CAA protests have led to delays in repayments in the entire north-east region, pockets of Uttar Pradesh, as well as in parts of West Bengal

The representative body of microfinance institutions, Microfinance Institutions Network (MFIN) has has sought forbearance for extended payments from Reserve Bank of India. MFIN's move comes on the back of anti-Citizenship Amendment Act (CAA) protests taking place in the entire north-east region, pockets of Uttar Pradesh, as well as parts of West Bengal.
 

“We have asked RBI for forbearance as the payments have been impacted in few districts in Assam. In some cases, by January, the defaults will run into 90 days,” said a senior official at MFIN. However, the delays have not yet translated into defaults and MFIs are hopeful of recovery once