Indian Microfinance Sector and the companies in the sector

Hi,
Just curious to know if this belief is based on some evidence or is it just an inference. My understanding is that RBI had simply created more channels to push “fin incl” but if banks are acquiring MFIs or MFIs are becoming SFBs it is purely based of their choice (and their own vision of future) and not due to RBI or any other regulatory dictat or intent.
Thx
RR