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MIcrofinance.... good or bad?

Created by : Ketaki Kiran Inamdar, M.A student, mumbai university, economics dept.  | 01 25 2011 08:27:09 +0000
Industry : BankingFunctional Area : India(Markets)
Keywords : micrifinance.... good or bad? microfinance.... good or bad?
Activity:  442 views;  last activity : 02 12 2011 11:18:38 +0000
 
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some problems with current system but will bring good results Vs its not working out good with current system so shouldnt exist
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Microfinance works out really well for India...but some how its plagued by controversies which had come from SKS microfinance and others, but if regulated properly Microfinance can help many a people who don't have any form of financial assistance for them, hence if problems are tackled properly then it can do wonders.
By Swati Raut, Product Manager, Aviva  01 28 2011 04:26:59 +0000
 
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Any thing introduced will have hiccups,starting troubles etc.We should find out ways and means to make it foolproof and implement the same in order to serve the poor and needy.
By s.baalu , Consultant, XYZ LTD  | 02 12 2011 11:18:38 +0000
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hi swati what is position collection in your state
By karnal singh, Collections Executive, idea celluar ltd.  | 02 11 2011 14:38:18 +0000
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what is microfinance
By karnal singh, Collections Executive, idea celluar ltd.  | 02 11 2011 14:31:01 +0000
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Microfinance can be a very effective tool to act as a catalyst for the larger objective of financial inclusion. The regulators should control the costs and make the microfinance afforadable and development oriented
By Ivaturi Vijaya Kumar, Branding, PR, Advertising and strategy, Andhra Bank  | 01 29 2011 10:56:04 +0000
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I support your views Ms.Swati.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 01 28 2011 17:29:10 +0000
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Good point but up to a certain extent. As we are thinking about the borrowers we must also think about the recovery process for lenders because if no heed is paid to the micro-finance businesses, the stakeholders would not be willing to put in more. It must have some green pasture for the horses to participate in derby.  

I think we should first research in these areas by creating models and then gradually move into such ventures because as we witnessed the grand opening and now the plague, research and thorough analysis seems necessary and not only in this field it must be done in every critical or new thing.

India must start researching soon and invest a good amount in this before China just close the gates for us, we must come out of our complacency and self pride.


By Nikhil Arora, Associate Functional Consultant, Yamaha Motors Solution  | 01 28 2011 16:13:40 +0000
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its one of the fine concept in finance.due to recent government policies and regulation, now it may be in its worst part. in my point of view... if u visualize micro finance in long term basis it will be a hen laying golden egg, which benefit both the customer and the company........
By MOHAN RAJ, MBA/PGDM student, Kongu Engineering College, Erode  | 01 28 2011 14:35:45 +0000
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its good...but planning in a proper way according to the division of income groups should be made for the successful outcomes...and regarding the current system its like a gradual process that needs time and efforts and the private sector financial companies should make a higher and broader approach to introduce it to the youth earners..
By ankita minj, student  | 01 28 2011 12:34:24 +0000
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Greed for money and aggressive and irresponsible lending caused all these problems. At least now the players and supporters should change mindset.
By Narendra Prasad, Freelancer, Microfinance & Banking  | 01 28 2011 05:55:18 +0000
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Microfinance concept is good for poor sectors but, further improvements was drawn in Microfinance India SUMMIT 2010, which is something like subprime lending but the problem occurs in utilizing those pyramids.
By Meenakshi Pandita, Management Trainee- Finance, Nine Dot Nine Media Pvt Ltd  | 01 28 2011 05:20:36 +0000
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I think it is a good lending system for needy people who are in need of small capital , it has worked fantastically well in Bangladesh through Grameen bank.
By Rajeev N.Bhatt, Equity Trader, self employed  | 01 28 2011 05:08:07 +0000
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Microfinance concepts are good but the problems in implementation process hides its benefits...
By Hanz Abdul, Business Development Manager, Starsoft IT Solutions  | 01 28 2011 04:45:49 +0000
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I think there are some constraints and difficulties with current situation but if tackled neatly microfinance has potential to bring out something good
By Ketaki Kiran Inamdar, M.A student, mumbai university, economics dept.  | 01 28 2011 04:22:02 +0000
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For micro finance we need a consolidated banking system it cannot be done through small banks.
By Vinod kumar, MBA (Finance) student, Punjab College of Technical Education  | 02 04 2011 09:10:21 +0000
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I completely agree with Mathew.It is really beneficial for poor class.But it can be easily done through our banks.There is no need of seperate organisation to do it.
By Tushar Kamble, Assistant Manager, AXIS Bank  | 02 03 2011 17:09:04 +0000
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Microfinance is good for lot of poor people where they get much needed credit. It can lead them to co-coperatives and so on which might work, where they can get better prices for their products. Then the financciers can make it difficult for them by charging higher rates which can even go up to 85% annualised. Any how microfinance is like, 'trying to cover a hole with darknes' when light falls the hole remain visible. The best option is social security checks, which require more wealth and government savings along with employee participation. Then our purchsing power is so poor with lots of economic lags and anomolies along with leakages one cannot expect to tax the working citizen to fund the welfare initiative.
By Mathew Cherian, Research Associate/Analyst, Western Michigan University  | 01 28 2011 18:32:32 +0000
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Hen Laying golden Egg everyday for whom for the poor people who take finance from them or the finance companies.  It is for the Microfinance companies, becuz the borrowers are mostly illiterate and do not understand the rate of interest they pay for the finance, which are almost usurious.  Take the case of Andhra Pradesh, where so many borrowers resorted to suicide to get out of the clutches these microfinance companies.  There is no proper regulation by the concerned state governments and RBI is a silent spectator, these companies are worse than the money lenders.
By kanukurthy sudershanrao, Operations Manager, Andhra Bank  | 01 28 2011 15:10:16 +0000
Argue for "some problems with current system but will bring good results"
Argue for "its not working out good with current system so shouldnt exist"
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