The lender of Russia will continue to evaluate how a amendments to regulations effective since 2019 have been influencing the microfinance market january. A diminished day-to-day interest on payday advances is just about the most critical facet of the brand new legislation. Pay day loans are the essential category that is expensive of. The attention price on such loans equalled 1.5percent per at the end of January, and since July it has decreased to 1% per time day.
Due to the implemented restrictions, payday lenders’ proceeds paid off by 7% over 2019 H1, in accordance with the 2019 Q2 Microfinance marketplace styles, an information and analytical commentary made by the financial institution of Russia’s Microfinance marketplace Department. [Read more...]