"The problem is that, despite the abundant criticism of microcredit organizations, they perform an extremely important social function, providing access to borrowed funds to those citizens who, for various reasons, cannot use a bank loan. And MFIs are not the last resort here - if they are not, citizens will borrow money from "black creditors", leaving apartments and other assets as collateral, "the expert explained.

In addition, according to him, it should be borne in mind that the Central Bank, as a supervisory organization, "keeps its finger on the pulse" and monitors the work of MFIs.

"In this regard, it is worth noting that for several months in a row, the issuance of microloans has been declining. For example, in July 2023, the number of microloans (or "payday loans" up to 30 thousand rubles) decreased by 2.8% compared to the previous month. In many ways, this was the result of the regulator's measures to cool the microfinance market," the specialist added.

Thus, at the beginning of the year, macroprudential limits were introduced in terms of the debt burden of borrowers, and from July 1, 2023, the maximum possible interest rate on microloans was reduced. These measures have led to a reduction in the issuance of "payday loans", primarily to citizens with a high debt burden, the interlocutor of RT emphasized.

"Returning to the issue of greater availability of microloans compared to bank loans, it should be noted that if Russian citizens more often monitor their credit history, track the value of their personal credit rating (PCR), and prevent delays in servicing current loans, then it will become much easier to attract a loan from many banks on much better terms. For our part, we can advise you to have a backup option in the form of an open credit card. But for this, I repeat, it is necessary to take responsibility for our obligations and not to allow delays, "Volkov concluded.

Earlier, deputies of the faction "Fair Russia - For Truth" submitted to the State Duma a bill banning the activities of microfinance organizations.

State Duma deputies Fedot Tumusov and Dmitry Gusev explained in an interview with RT the importance of this bill.