All member rural banks are hereby notified of the amendments on the provisions of Micro Agri Loans, as stipulated in the recently issued BSP circular. The modifications are under subsection X361.7 of the MORB.
Particular attention should be given on Section 2, which lists several prudential requirements for compliance; Section 3 meanwhile covers the breakdown on product characteristics affecting purpose/term, eligibility, loan amount, loan value, payment and security.
To know more about these amendments, please download Circular 748 from our Slideshare Account.
Thank you.