Second Covid-19 wave: Curbs beyond a month to hurt biz, says MFIN


Lockdowns beyond a month will adversely impact the institutions (MFIs) as prolonged restrictions on economic activities will hit the livelihood of customers, according to the Institutions Network (MFIN).


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Alok Misra, chief executive of MFIN, said recoveries and collections remained above 90 per cent level in March. After the last year’s lockdown, the activities of MFI clients substa­ntially improved as most of them were engaged in cate­ri­ng to daily needs.


MFIN is an industry association comp­ris­i­ng 58 NBFC-MFIs and 39 asso­ciates, including banks, small banks (SFBs) and NBFCs. The current lockdown has created a challenge for those working with MFIs. He said MFIN has asked the Union health ministry to give front­line category status to over 130,000 staff to get vaccination on priority.


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