 "Microfinance")
The mythical phoenix cyclically regenerates itself, combusting to be born again out of its ashes. Some legends say it dies in a show of flames, while others say it simply dies and decomposes before being born again.
Now what does the phoenix have to do with banking and finance? Well, there is some bit of similarity if we look at the history and evolution of India’s microfinance industry. Like the phoenix, it time and again faces challenges – sometimes, perhaps, even an existential crisis – but every time, it bounces back.
The latest blow has come from the Karnataka government,
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
