RBI to review Rs 3 Lakh income limit for microfinance borrowers: Deputy Governor

New Delhi, Nov 15 (UNI) The Reserve Bank of India (RBI) is considering a review of the annual household income threshold of Rs3 lakh for microfinance borrowers, following demands from industry participants to revise the existing limit. RBI Deputy Governor Shirish Chandra Murmu said the central bank would examine the need for a change based on its assessment of the sector and developments within the industry. Speaking at an event organised by the Microfinance Institutions Network (MFIN) in Mumbai, Murmu said the review would depend on the evolving requirements of the sector. He also emphasised the need for microfinance lenders…