India: Microfinance Warns of Collapse Over Credit Freeze

Oct 2010
Hyderabad, India, October, 26 2010 - India’s microfinance industry has warned it is being pushed to the brink of collapse, as a result of a bank freeze on credit to microlenders triggered by a political crackdown. India’s commercial banks, which normally provide about $133m a week in credit to the microloan industry, have frozen those disbursals for the past two weeks, as companies wrestle with a backlash in one of their biggest markets, the state of Andhra Pradesh.

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Source : Financial Times

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