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Related ResourcesDeposit Assessment in Nepal
Microfinance In India: Built On Sales Targets or Loyal Clients?Country Focus Notes Author: Graham A.N. Wright
Published: May 11, 2010
The core market for MFIs is the very weaker sections as defined by the priority sector lending requirements of the Reserve Bank of India. As such, MFIs offer a tremendous opportunity for the state, (which wants to see these vulnerable groups "financially included" with access to a range of financial services, particularly credit) and to the banks, (which need to achieve their priority sector lending requirements). Strong relationships and in-depth understanding of the needs of clients are key to addressing the problems of multiple borrowing and over-indebtedness. MFIs will need to diversify the range of services they offer to encompass insurance, savings and even remittance services - probably through m-banking platforms.