The Central Bank proposed allowing increased cash disbursement limits in pawnshops and microfinance organizations...

The Central Bank proposed allowing increased cash disbursement limits in pawnshops and microfinance organizations

This follows from the regulator’s published draft directive.

For microfinance organizations, it is proposed to double the maximum amount they can issue in cash, from 50,000 to 100,000 rubles. For pawnshops, from 50,000 to 200,000 rubles.

The Central Bank also intends to increase the maximum total volume of cash loan disbursements during one day from one million rubles to two million.

It was previously reported that Russia’s microfinance market began to decline amid regulatory restrictions.

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