GRIEVANCES GALORE: Women self-help group leaders from various States addressing a press conference
The indiscriminate nature of lending and coercive tactics adopted during repayment by micro finance institutions (MFIs) undermined the self-help group (SHG) movement. This resulted in absence of any control over lending and led the SHGs back to moneylenders, alleged leaders of SHG movement from a few States who were here to participate in the annual Madurai Symposium organised by Dhan Foundation.
Addressing a press conference on Thursday, N. Shanthi Maduresan, Chief Executive, Indian Network of Federations of Microfinance Self-Help Groups (INFOS), said that many private players had started to invest their money in micro lending only to make a profit out of it.
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Author : Abhay N
Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.
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