Indian micro-lenders look beyond Andhra Pradesh for survival

Tuesday, October 1, 2013

With the impasse continuing in Andhra Pradesh’s microfinance sector, crisis-hit micro-lenders are expanding their businesses outside the state to survive.

Consider this: Future Financial Services, a microfinance company based in Andhra Pradesh’s Chittoor district, had to approach banks for debt-restructuring after the state government introduced a new ordinance in October 2010 curbing micro-lending operations of private players.

Source: Business Standard (link opens in a new window)

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financial inclusion, financial products, microcredit, microfinance