Microfinance: To hell and back
In a nation where half the population isn't served by formal banking system, microfinance industry acquired a halo in the early part of last decade. And then, Andhra Pradesh crisis happened
Alok Prasad, chief executive officer of Microfinance Institutions Network (MFIN), a lobby group for the Indian microfinance industry that recently got the status of a self-regulatory organization from the banking regulator, says “we did not waste a good crisis", on the fourth anniversary of the microfinance crisis that originated in Andhra Pradesh.
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