What is the maximum number of lenders allowed per borrower under new Microfinance Institutions Network (MFIN) rules which came into effect from 1 April 2025?
MFIN Rules on Lender Limits for Borrowers
Maximum Lenders Per Borrower
The Microfinance Institutions Network (MFIN) introduced new regulations concerning the number of lenders a single borrower can engage with.
Key Regulation Details
- Effective Date: 1 April 2025
- Rule: A borrower is permitted to have a maximum of three lenders at any given time.
- Purpose: This regulation aims to prevent over-indebtedness among borrowers in the microfinance sector.
Therefore, under the new MFIN rules effective from 1 April 2025, the maximum number of lenders allowed per borrower is three.
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