ACCESS Development Services has made Microfinance India – State of the Sector Report 2012 available for free download online.
The Microfinance India – State of Sector Report for 2013 is expected to be released at the 10th Microfinance India Summit to be held from December 9-10, 2013 at Hotel The Ashok, New Delhi, India.
Microfinance India – State of the Sector Report 2012
can be downloaded at the link below:
Extract from the Foreword
Just finished reading ‘Confessions of a Microfinance Heretic’ by Hugh Sinclair. A sordid saga, though exaggerated at places, of a good intent that went haywire. This apparently is a new genre of literature in the sector that is starting to hit the stands. In India, about two years back, Prof. M. S. Sriram of IIM Ahmedabad, wrote a Discussion Paper in a similar gripping narrative titled ‘Commercialization of Microfinance in India’ that had an insightful description of the boardroom skullduggery within among the most pre-eminent MFIs in the country.
The good stories of ‘Doing good and Doing Well’ of a model that was touted as a miraculous mechanism of reaching the poor, seemingly have started to dry out and are replaced by scathing details of wrongdoing by MFIs, client abuse, high profiteering, investor greed, manipulations within Board Rooms and are grabbing headlines. While perhaps the Sinclair book is not so well circulated among those that view commercial microfinance with skepticism and suspicion, the Sriram Paper was widely read by a diverse cross-section of stakeholders, more importantly by policy makers and regulators.
Among others, the paper then became the casus belli that led to the Andhra Pradesh crisis in October 2010. A market that seemed to be sizzling, crashed completely and promoters who featured as among the most influential people by magazines like Time and Newsweek, disappeared from public sight in the wake of the Andhra Pradesh Ordinance.