Banks support India microfinance lenders
Tuesday, November 2, 2010
India’s banking industry has thrown its support behind microfinance lenders after weeks of upheaval and confusion.
Major banks like the State Bank of India, Standard Chartered and Citi have all agreed to continue lending to microfinance firms.
The multi-billion dollar industry was on the brink of a mass default.
Source: BBC (link opens in a new window)