Quote on RBI Circular issued on ‘Qualifying assets of NBFC-MFIs’ by Mr. Ganesh Narayanan, Chief Executive Officer, CreditAccess Grameen Ltd
Below the Quote on RBI Circular issued on ‘Qualifying assets of NBFC-MFIs’ by Mr. Ganesh Narayanan, Chief Executive Officer, CreditAccess Grameen Ltd
“The Reserve Bank of India's decision to reduce the qualifying asset threshold to 60% (net of intangible assets) from 75% of total assets is a transformative step forward. Our 'Evolve with Customer' philosophy, focused on addressing the diverse financial needs of households, has been further strengthened as a result. This policy shift will enable accelerated diversification within our operations, ensuring balance sheet stability and positioning us for robust cross-cycle earnings. The RBI has time and again ushered in progressive measures that supported the growth of the microfinance sector, creating a more inclusive ecosystem. We remain deeply grateful to the RBI and MFIN for their leadership in driving financial empowerment across underserved communities.”
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