Past decade witnessed an unprecedented success of microfinance institutions in India. And when we thought nothing was going to break its stride; Andhra Pradesh crisis surfaced. It was an eye opener for many that surely confirmed microfinance is not the panacea for poverty. Since then MFIs have grappled hard to recover from the tight spot.
This MicroSave video is an attempt to understand the past, present and future of MFIs in India. Watch MSC’s Managing Director, Manoj Sharma, explain what it takes for MFIs to bring about the transformation for long term sustainability. He emphasizes on the unquestionable need for client focus, innovation in product and processes through effective use of technology, integration of social performance agenda, etc. to name a few. He concludes by drawing attention to the prominent role of donors and regulators for success of microfinance agenda.