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TN small borrowers delay repayments
Financial Express Lucknow
|May 20, 2025
"IT STARTED IN Karnataka and now it is in Tamil Nadu. Technically, the Act is not applicable to NBFC-MFIs. So, it is actually exempted, but then it is only the perception — people on the ground may feel this is applicable for everybody and people may delay payments," Muthoot had said during the company's fourth-quarter earnings call.
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According to Muthoot, the initial confusion around collections could take one or two quarters to settle. "Initially, there will be some hiccups. After some time, it has to straighten out. Today, there is a hiccup," he said, without quantifying the impact.
The Tamil Nadu Bill proposes up to three years' imprisonment and financial penalties against recovery agents found employing coercive recovery tactics. The provisions have unnerved microfinance lenders and small finance banks (SFBs) in Tamil Nadu — the second-largest market in the ₹3.85 lakh crore microfinance industry after Bihar.
This story is from the May 20, 2025 edition of Financial Express Lucknow.
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