By the end of this year, one in every 10 Indians will be an Internet user, making the country the third-largest Internet market in the world after Chinaand the United States. At the end of December, 121 million Indians will be accessing the Internet at least once a week to check emails, chat or log on to a social network, a survey has found. India is adding Internet users at the...
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India Microcredit Faces Collapse From Defaults by Lydia Polgreen and Vikas Bajaj
India’s rapidly growing private microcredit industry faces imminent collapse as almost all borrowers in one of India’s largest states have stopped repaying their loans, egged on by politicians who accuse the industry of earning outsize profits on the backs of the poor. The crisis has been building for weeks, but has now reached a critical stage. Indian banks, which put up about 80 percent of the money that the companies...
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