Where Angels Prey

Where Angels Prey is a novel by Ramesh S Arunachalam. Please refer to www.whereangelsprey.com for more information

Monday, November 28, 2011

Dissecting the mechanics of growth in Indian microfinance

Ramesh S Arunachalam

Let us stop crying over spilt milk but let us not forget what has happened in the past in the desire to achieve scale speedily. Going forward, it would be prudent for the Department of Non-Banking Supervision, RBI as well as proactive MFI boards (like Sahayata and SKS) and other stakeholders to look at growth trends closely

An earlier article in Moneylife (Lessons from the commercial microfinance model in India,) showed how the burgeoning growth of the commercial non-banking finance company (NBFC) model in Indian microfinance—during the period April 2008 to March 2010—perhaps led to the 2010 Andhra Pradesh microfinance crisis, which was the third in a series of crisis situations (the first being Krishna and second being Kolar) in the last six years.

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