Heads of microfinance institutions (MFIs) emphasize the difficulty in lowering interest rates without access to cheaper funds, suggesting a dedicated credit guarantee scheme or refinance facility. With current rates between 21% and 24%, there is regulatory pressure to reduce them. Alternatives include revamping existing credit guarantee schemes and introducing an interest subvention scheme.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.
July 27, 2026