The TFF, in combination with the Bank's other policy measures, is contributing to a significant reduction in the structure of interest rates in Australia. The substantial fall in banks' funding costs has been passed through to borrowers, who are benefiting from historically low rates. The most direct effect of the TFF has been to provide banks with a low-cost source of funding.
An initiative which began as a simple approach of improving and deepening rural credit has slowly got transformed into an all-inclusive programme for building financial and technological capabilities in rural India. 4. Over time, the bouquet of services under micro finance fold has expanded from only credit and thrift products to include micro insurance, micro pension, micro remittances, digital payments, amongst others.