A quarter of MFI clients are willing to turn to illegals when loan limits are introduced

Every fourth (24.5%) active client of microfinance organizations said that the inability to take more than one loan would significantly worsen his financial situation, according to a survey conducted specially for Izvestia by the online financial platform Webbankir. Moreover, 25.1% of borrowers are ready to turn to "companies that will circumvent the ban", i.e. actually to illegal lenders.

And yet other results of the survey experts assessed positively. Thus, 38.7% of respondents believe that the innovations will not affect them. Another 36.8% noted that the ban will create inconveniences for them, but they will still be able to find the necessary money - for example, they will increase the workload at work, find a part-time job, turn to friends or relatives for help.

The Central Bank has prepared a number of measures to combat overcrediting of the population, including new regulation of the MFI market. The regulator plans to introduce a "one loan per hand" restriction. It will apply to expensive products, for which the full cost of the loan exceeds 100% per annum.

Another measure concerns a three-day cooling-off period after repayment of the obligation. Another limitation of the borrower's overpayment limit to 100% of the amount (now - 130%) is also being discussed.

Read more in the exclusive material "Izvestia":

Shadow disruption: a quarter of MFI clients are ready to go to "black lenders"