Microfinance in India: A Review
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This book will take the readers on a journey from the beginning of microfinance to the problem that the industry faces. As an author, I noticed that the Indian Microfinance has grown rapidly during the last decades, giving financial services to the massive underserved market. However, unfortunately the industry suffered a crisis of faith after the Andhra Pradesh event that questioned the very basis of its existence .This work answers some of the most pressing issues faced by the MFIs in terms of charging exorbitant interest rates and coercive collection measures and never-ending debts have for...
This book will take the readers on a journey from the beginning of microfinance to the problem that the industry faces. As an author, I noticed that the Indian Microfinance has grown rapidly during the last decades, giving financial services to the massive underserved market. However, unfortunately the industry suffered a crisis of faith after the Andhra Pradesh event that questioned the very basis of its existence .This work answers some of the most pressing issues faced by the MFIs in terms of charging exorbitant interest rates and coercive collection measures and never-ending debts have forsaken the social mission of MFI's existence. Further, the book debates if these MFIs are justified in charging the interest rate and presents a critical analysis for each source of fund available to MFIs i.e. grants/aids deposits, borrowings and equity. Finally the book recommends the sources which should be preferred by the MFIs in order to reduce their cost of funding and thus making it profitable for them to serve the poor even at reduced lending rates.
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