an interview with vijay mahajan shortly after he announced basix would shut down in a couple of months. here.
reported for this story by my colleague atmadip on how the credit taps might be opening up again for the mfis. which is good for them. coz the last few months have seen mfi loan portfolios shrink as bank lending dried up. At Chennai-headquartered Equitas, the asset base is down from 950 crore to about […]
the mfi story continues to unfold. in this story, my colleague john samuel and i look at why mfis’ attempts to restructure their debt are off to a poor start.
and would you like to guess what the head of one of india’s largest mfis earns?
after three months of low repayments, mfis in andhra are staring down the barrel of a gun, says this story by my colleague john samuel raja d and me.
The Microfinance Institutions Network (MFIN), a self-regulatory body of a clutch of 44 NBFC MFIs, has asked for Rs 1,000 crore in the form of business continuity facility, an euphemism for emergency money, to ensure survival. In an email to fellow MFIN members, Vijay Mahajan, the president of the NBFC-MFI association, said the loan has […]
a few months ago, papers and tv channels in andhra pradesh began reporting that women who had taken loans from microfinance companies were killing themselves. after 2005-06, when there had been similar reports of suicides amongst MFI borrowers back in 2005-06 (see this), this was the second such outbreak. the whole thing was surprising. while media […]
On the ground… the MFIs’ growth is creating an unnerving situation. Even among those in the industry, there are fears of a mass-delinquency. In fact, Andhra is the most penetrated market in the world, on par with Bangladesh, says Daniel Rozas, a contributor at industry blog Microfinacefocus.com. “The state was already at 6% overcapacity a […]
India’s booming microfinance segment is under the scanner, with the Reserve Bank of India (RBI) issuing a veiled warning that it could be taken off the priority sector lending list of banks if the industry fails to improve its governance standards… The RBI officials reportedly told MFI executives that the central bank was aware of the […]
Between November and December 2005, I worked as a consultant on a World Bank project to create market linkages for self help groups in Andhra Pradesh through the private sector. What follows is a story I wrote about that experience. **** eleven in the morning. the tired, dessicated landscape of telengana, its aged, withered hills, […]