Don't mislead public at large and investors. It was a total failure with politicians egging borrowers not to repay and that Govt. will write off. The borrowers at large are resorting to suicide at the drop of a hat as they find it beneficial to the family with Government largesse of public funds which mostly feed corruption or election. Hence for the sake of befooling SOBs, Don't circulate such shit. Take it from me, MFI will not survive in India.
Re: Microfinance in Andhra
by sathyam guda on Nov 23, 2010 02:29 PM
Nail MFI sector. It is good and great. State Government, Central Government, RBI and other regulators have fullest powers and they can take measures. BUT, the fact is, Political bashing of MFIs, Governments (State/Central Bashing), Bankers and regulators bashing of MFIs, some citizens, academicians, some experts and critics bashing of MFIs is uncalled for and unjustified. MFIs are necessary for the poor. Once MFIs sector suffers poor get into misery and Government/banks will not be able to meet even fraction of credit needs of poor. All these (Govts/Banks) stop loaning poor on the pretext that loans are not repaid by the poor. Poor will have no where to go but to money lenders. Neither the political parties nor the media/nor the MFI bashers will come out and give any loans to poor. Now it is the choice of media, political parties/Govts (central Govt/Sate Govt) and other MFI bashers whether to continue bashing MFIs or properly think and see the largest benefits that come through MFIs and it is also their duty that they compensate the loss done to MFIs in the last two/three months.
SKS is taking all the help from neo-liberals and usurers to plant such stories. Investers should be careful as this is causing rise in its stock price. The usueres may themselves run away from the company after inflating its stock price.
