India is now a member of CGAP

The industry body of micro-lenders MFIN has said that India has become a member of Consultative Group to Assist the Poor (CGAP), which is an international apex body for micro-finance. "India has been admitted as a member of CGAP two days ago. The implication is that for the first time, a developing country has joined CGAP," MD, Basix Micro finance and President of Micro-Finance Institutions Network Vijay Mahajan said.