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What lies ahead for Assam microlenders? Microlenders operating in Assam may face an impasse following the enactment of a recent state law January 13, 2021 / 01:07 PM IST Worried microfinance institutions (MFIs) have initiated dialogues with the Assam State government, the Reserve Bank of India (RBI) and the central government with respect to a recent state law. The law was enacted by the Assam government to control the operations of the microlenders following reports of coercive lending practices. Certain provisions of the law, called The Assam Microfinance Institutions (Regulation of Moneylending) Bill, 2020, have put MFIs operating in the state in a tough spot. These include mandatory registration of MFIs within 30 days, collection of dues only at gram panchayat offices or at designated public places, among others.

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