All news
Microfinance organizations have decided to limit
These changes are expected to significantly reduce the risk of defaults and create a more stable financial environment for borrowers.
The Central Bank of Russia has proposed introducing new rules for microfinance organizations (MFOs) to limit the issuance of loans. According to this innovation, a borrower will be able to take out a new loan only after the previous loan has been fully repaid. A requirement was also introduced that new microloans cannot be issued within three days of the debt being repaid.
This decision is related to the problem of increasing credit debt of Russians. In the report, the regulator emphasizes that certain categories of citizens habitually rely on loans provided by microfinance organizations. These borrowers often apply for several loans at the same time, which significantly increases their debt burden.
The Central Bank also plans to reduce the maximum overpayment limit on consumer loans from 130% of the loan amount to an optimal 100%. This will help protect borrowers from excessive debt burden and increase the availability and security of loans.
No less significant is the initiative of the State Duma deputies to limit the number of consumer loans that one citizen can receive at one time. According to the legislators, banks and microfinance organizations should issue no more than two loans per person at a time, which will prevent the accumulation of debt and help borrowers get out of the crisis, according to the legislators.