Under the Reserve Bank of India guidelines, a microfinance institution cannot charge more than 26% interest rate. Photo: Aniruddha Chowdhury/Mint
Microfinance institutions (MFIs) borrow from banks and extend small loans to low-income borrowers typically at interest rates ranging between 24% and 36%. Photo: Mint<br />

RBI accords SRO status to Mfin

1 min read . 17 Jun 2014