Opinion | Microfinance to the rescue of have-nots4 min read 15 Apr 2020, 04:20 PM IST
As the covid crisis kicks in, this sector could alleviate the distress of India’s most vulnerable—but it urgently needs regulatory back-up
It is noteworthy that Indian MFIs have the lowest operational cost globally; they retail money more efficiently than their global peers
Globally, it is proven that access to finance is a necessary condition for sustaining livelihoods and raising incomes. This is especially true for Bottom-of-Pyramid (BoP) families, who have traditionally been bypassed by the formal sector on account of their small requirements and the need for personalized touch. Microfinance emerged as a response to this; offering small scale financial services through doorstep delivery.
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