Microfinance Institutions (MFIs) in India

Syllabus: Economy Source:  TH Context: Karnataka passed the Micro Loan and Small Loan (Prevention of Coercive Actions) Bill, 2024, following rising borrower suicides and public backlash against coercive recovery tactics by unregistered microfinance agents. What is Microfinance? Microfinance provides small loans, savings, insurance, and remittance services to low-income, unbanked populations. Evolved in the 1980s with …