Posts Tagged ‘A P Microfinance Ordinance’

Microfinance Focus, Oct 20, 2010: Millions of microfinance borrowers in Andhra Pradesh are left stranded as they are denied of their weekly microfinance loans in the wake of the microfinance ordinance which was issued by state government last week, prohibiting microfinance institutions from carrying out lending and recovering operations till they get registered with the district registering authority. Microfinance sector in Andhra Pradesh has a client ... Full story

Microfinance Focus, Oct 20, 2010: Responding to the allegations made against microfinance institutions in the media by government bodies like District Rural Development Authority (DRDA) and Society for Elimination of Rural Poverty (SERP), Mr. Alok Prasad, CEO of MFIN (Microfinance Institutions Network) said, “To make a correct determination of any matter, proper enquiry needs to be done but I strongly feel that people are arriving ... Full story

By N. Srinivasan, Microfinance Focus , Oct 19, 2010 : The objectives of the ordinance are laudable.  Protection of low income clients from exploitative practices and enhancing levels of transparency are valid public policy objectives of a sovereign government.  High debt levels, multiple operators providing loans as also pressure on repayment rates are legitimate cause for concern.  The remedy being applied does not seem appropriate ... Full story