 "Banks")
With both, the Small Industries Development Bank of India (Sidbi) and National Bank for Agriculture & Rural Development (Nabard), having Rs 40,000 crore at their disposal for liquidity support from Reserve Bank of India (RBI), both organisations are chasing top Microfinance Institutions (MFIs) for financing.
According to informal estimates, the two organisations together are looking to extend Rs 7,000-8,000 crore in funding to MFIs.
In fact, the two are even competing with each other to tap top MFIs, according to a senior executive at the MFI industry.
Yesterday Sidbi extended the repayment period of loans to MFIs to one year
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