Microfinance firms fear Andhra law will hurt them
Hyderabad, December 15: The Microfinance Institution Network (MFIN), a body of micro-finance companies, Wednesday expressed disappointment that the Andhra Pradesh legislative assembly passed a regulatory bill without any amendments, and feared the law would impact their smooth functioning.
The MFIN, which represents 44 micro-finance companies registered with the Reserve Bank of India, said the bill would create further hurdles for legitimate companies in providing access to finance for the poor.