DW BUREAU / Chandigarh The microfinance industry stands for and with the people in providing economic independence and financial inclusion. In Punjab there are over 13 lakh women who have taken loans from microfinance institutions for purposes like small businesses, agriculture, education, health, housing, etc. This has had a positive impact on the lives of over 50 lakh people. Microfinance industry in Punjab, as in rest of the country, is regulated directly or indirectly, by the Reserve Bank of India and in many a cases it's the only source of dignified loans for the poor people for livelihood generations and other activities. However, recent misinformation and false rumours have been doing the rounds in some districts that RBI's announcement of moratorium is equivalent to loan waiver. P Satish, Executive Director, Sa-Dhan, said: "We have noticed some false information being spread about the microfinance industry, in parts of Punjab which can severely impact the livelihood of thousands of underserved families, affect their credit history with the potential of alienating them from future loans." "Since the outbreak of the pandemic, field officers of microfinance institutions in Punjab have been working relentlessly among borrowers educating them on the importance of social distancing, wearing masks, sanitizing hands regularly and other preventive measures," he said. "MFIs under their CSR activities have also been providing groceries to borrowers, setting up kitchens, donation to the PM CARES, CM CARES Fund, and so on. There have been many instances of MFIs providing emergency loans to clients to support them during these challenging times. Apart from being part of various government schemes MFIs are significant associates of MUDRA Scheme (Shishu Segment) and PM SVANidhi Scheme," added P Satish. (editor@dailyworld.in)