 "A new challenge for the microfinance industry?")
In October 2010, the enactment of a law in the southern state of Andhra Pradesh, then a hotbed of the microfinance industry, almost killed it. The law came into force in the wake of a spate of suicides by microfinance borrowers, allegedly harassed by the coercive measures adopted by the collectors of such loans.
The Reserve Bank of India (RBI) stepped in with regulations capping the interest rates, quantum of loans and the number of borrowers a microfinance company can entertain, and formation of credit bureaus, among other things. These brought the industry back from the brink of a
The Reserve Bank of India (RBI) stepped in with regulations capping the interest rates, quantum of loans and the number of borrowers a microfinance company can entertain, and formation of credit bureaus, among other things. These brought the industry back from the brink of a
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