The Central Bank canceled the relief for SRO in the field of microfinance

AK&M 01 June 2023 13:42

From July 2, 2023, the Bank of Russia will not extend the relief, which provides for non-application of measures for violation of the requirements for mandatory verification of members of self-regulatory organizations (SROs) uniting microfinance organizations, consumer credit cooperatives and agricultural consumer credit cooperatives. This was reported by the press service of the regulator.

This measure was introduced in 2022 in an unstable economic situation. During the period of its operation, SROs were able to adapt their control functions to the changed conditions, the Central Bank emphasizes.