Taming the "Wild West" of Microfinance

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Taming the "Wild West" of Microfinance

Postby Mr. G » Sun Jan 02, 2011 8:10 pm

The recent suicides by over 60 poor borrowers in the Indian state of Andhra Pradesh have brought the operations of microfinance institutions (MFIs) under public scrutiny. It is well documented by both print and electronic media that these debt-driven suicides were due to coercive methods of loan recovery used by commercial MFIs. The commercial MFIs operate as profit-making non-banking financial corporations (NBFCs) in India.

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