All Commercial Banks (including Small Finance Banks,
Local Area Banks and Regional Rural Banks) excluding Payments Banks
All Primary (Urban) Co-operative Banks/ State Co-operative Banks/
District Central Co-operative Banks
All Non-Banking Financial Companies (including Microfinance Institutions
and Housing Finance Companies)
Madam/ Dear Sir,
Please refer to paragraph 8 of the Statement on Developmental and Regulatory Policies announced as a part of the Bi-monthly Monetary Policy Statement for 2020-21 dated February 5, 2021, regarding review of the regulatory framework for microfinance.
Master Direction – Reserve Bank of India (Regulatory Framework for Microfinance
Loans) Directions, 2022
- A consultative document on regulation of microfinance loans was issued for public
comments on June 14, 2021. Based on the feedback received, it has now been decided
to put in place the directions for microfinance loans which are enclosed.
Chief General Manager