No relief for Mudra Shishu loan borrowers during moratorium

The subvention will begin from June for the next one year for borrowers that had opted out of the moratorium offer. RBI extended the moratorium benefit till August 31 for borrowers under stress. The ministry also said that banks, NBFC and MFI that channel Mudra loans to the bottom-of-the-pyramid borrowers cannot raise interest rates on Shishu loans till the subvention scheme remains operational.

from Banking/Finance-Industry-Economic Times https://ift.tt/2NQ6GQv