Government
The Micro finance Institutions have lent about Rs 22,500 crore to nearly 2.7 crore active borrowers.
For More Reading. .
What Is The Extent Of Micro Finance In India?
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వార్తలూ వ్యాఖ్యలూ
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The Micro finance Institutions have lent about Rs 22,500 crore to nearly 2.7 crore active borrowers.
For More Reading. .
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1 Comments
If access is all that matters we won’t be experiencing starvation deaths in India. The starving just had to walk to the nearest shop to buy their nutritional needs!
Despite two decades of operations, if statistics are to be believed, these MFIs only reach just 20 million people in the country, a good proportionate of them, multiple counted. Yet, they succeed in gaining an attention, so disproportionate to this minuscule reach.
Much of the funds, if not all, which MFIs used are re-lend from public sector banks viz. taxpayer’s money. So if you admit MFIs profiteering, then why should taxpayer’s money used to enrich a few by exploiting and oppressing the poor? Why should they hide their profiteering and exploitation of the poor under the garb of NGO?
The problem with MFIs is that the whole concept was not simply about improved credit access. It was sold as a poverty alleviation strategy but ended in making the poor poorer and more indebted.