External broker reports(aggregated public sources), HDFC Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Ujjivan Financial Services / Equity Bottom-Up

<p>We reiterate CREDAG as our top idea that is likely to benefit from the RBI's revised proposals while we expect BANDHAN and UJJIVAN within our coverage universe to be adversely impacted. In its much-anticipated consultative paper on regulation of microfinance, the RBI has proposed greater harmonisation in the overall regulatory landscape which includes threshold definitions anchored to household income, removal of caps on number of total lenders and pricing, and elimination of any end-use restrictions on qualifying borrowers.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We reiterate CREDAG as our top idea that is likely to benefit from the RBI's revised proposals while we expect BANDHAN and UJJIVAN within our coverage universe to be adversely impacted. In its much-anticipated consultative paper on regulation of microfinance, the RBI has proposed greater harmonisation in the overall regulatory landscape which includes threshold definitions anchored to household income, removal of caps on number of total lenders and pricing, and elimination of any end-use restrictions on qualifying borrowers.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

MFI Consultation Paper: Incrementally positive for NBFC-MFIs