Millions of defaults threaten microfinance's future in India

Borrowers around the world have been hit hard but perhaps nowhere more so than in India. It’s the global leader in microfinance, the financial service that offers loans to entrepreneurs too poor to qualify for bank loans. Individually, these loans aren’t big — only around Rs 35,000 on average — but the number of people taking them out is huge.

from Banking/Finance-Industry-Economic Times https://ift.tt/3oM9SNa