With rural areas impacted by Covid, MFIs face drop in collections

With rural areas impacted by Covid, MFIs face drop in collections
Surabhi
Mumbai |
Updated on
Stakeholders hopeful of recovery by end of June
With rural areas also impacted by the second wave of the Covid-19 pandemic, microfinance institutions (MFI) have been witnessing a drop in collections and expect further uncertainty but are hopeful that the situation may stabilise by the end of June.
“The situation was normal at least till the third week of April this year unlike April and May 2020 when there was a complete lockdown and no collections. Collections have now slowed down and they are only up to 20 per cent to 30 per cent of normal levels,” said P Satish, Executive Director of MFI association SaDhan.

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