Microfinancing Spreads Beyond India’s Grassroots

Jul 2010
New Dehli, India, July, 20 2010 - Traditionally, poor Indians have relied on private money lenders – often charging interest rates of at least 36 per cent per year – when they have needed to fund school fees, medical emergencies, weddings, or even working capital for their farms. Failure to pay often meant violence – or loss of treasured assets.

Full story available on publisher's website.

Source : Financial Times

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