Govt move to cap lending rates at 22-24% may shut most MFIs

Avast majority of India’s microfinance institutions (MFIs) may have to shut if the banks from which they borrow force the firms, under instruction from the finance ministry, to make loans at 22-24%, according to industry experts.
Some say capping lending rates at 24% could wipe out 80% of India’s 260 or so MFIs, which make small loans to poor people