MICROCAPITAL BRIEF: Government of India Revises COVID-19 Guarantee Program for Bank Funding of MFIs, Seeking to Enable 2.5m Microfinance Loans

India’s Finance Minister, Nirmala Sitharam, recently unveiled a set of measures intended to boost the nation’s economic recovery following its second wave of COVID-19 infections. One of these is to encourage the distribution of 2.5 million retail microloans by microfinance institutions (MFIs), funded by