The following outlines the regulations set forth by the Financial Regulatory Authority (FRA) for NGOs and associations engaging in MSMEs financing , including advertising regulations for MSME financing services.
To comply with regulations, MSME financing providers must ensure all information advertised is comprehensive. This includes information delivered through audio, visual media, written materials, electronic communications, or any other means.
The regulations also establish guidelines for managing customer inquiries and credit checks.
MSME financing providers shall take into account “concept of solidarity groups” when making funding decisions and applying approved policies.
Upholding data privacy is another key principle for MSME financing providers. They are legally obligated to comply with all applicable laws and regulations regarding customer data privacy.
