The microfinance bubble has burst. The AP government Ordinance, the AP oppositionfs campaign asking borrowers not to repay and the sheer public hostility towards MFIs . all these have put the brakes on MFI activities for now. We need to rethink the role of MFIs in the rural economy . In order to do so, we must first grasp some of the myths on which the MFI sector has rested...
More »SEARCH RESULT
Total Matching Records found : 625
SKS Microfinance threatens to sue over loan repayment
Leading micro-lender SKS Microfinance today hinted that it could move the courts if the recent Andhra Pradesh notification prohibiting collection of loan repayments on a weekly basis is not withdrawn.The notification stipulated that the periodicity of repayment by self-help group (SGH) members to MFIs should not be less than a month, even under existing loan agreements.However, microfinance institutions operating in the state have railed against the move."In the event the...
More »Microfinance: What's wrong with it by M Rajshekhar
The poster boy of microfinance is now seeking some anonymity. In Andhra Pradesh, the epicentre of the worst crisis faced by microfinance in India, SKS Microfinance is playing down its identity and going into preservation mode. At its modest office in a residential colony in Warangal district, India’s largest microfinance company has taken down its board. At its head office in upmarket Begumpet in Hyderabad, it hung a cloth mesh...
More »Attappady land to be restored to tribes
The Cabinet on Wednesday decided to restore the tribal land allegedly encroached by a windmill company at Attappady in Palakkad district. Those who fabricated documents for facilitating the encroachment would be prosecuted. The Cabinet also decided to institute a comprehensive Vigilance inquiry into the alleged involvement of officials of various departments in the alienation of the tribal land. Briefing the media on the Cabinet decisions, Chief Minister V.S. Achuthanandan said the inquiry...
More »Need to regulate microfinance institutions: AIDWA by Parvathi Menon
Among the several resolutions passed on Thursday by the 9th conference of the All India Democratic Women's Association (AIDWA) in Kanpur, one of the most important ones was on the need to regulate microfinance institutions (MFIs), which are exercising an iron grip on poor women debtors in several States of the country. The resolution drew attention to the “spate of suicides as a result of the harassment and strong-arm tactics employed...
More »
