‘Controversial’ decision unsettles MFIs
Mon, Jan 04 2016, 12:00 am
The microcredit regulator has abolished disaster management fund (DMF) to utilise the reserved liquidity for expanding microfinance activities needed to reduce poverty.
Microcredit Regulatory Authority (MRA) sent letters to the microfinance institutions (MFIs) on Wednesday to phase out the fund and use it for further expanding microcredit activities instead.
The authority thinks MFIs do not need to reserve DMF anymore as it already has a 'reserve fund' using 10 per cent of ...read more