Low-income Borrowers Claim Harassment by Microfinance Companies in Asia

Low-income Borrowers Claim Harassment by Microfinance Companies in Asia

Protests have now been staged in a number of states over so-called coercive measures to recover re re payments.

Kolkata — Tensions are simmering in India’s microfinance sector as borrowers stage protests, claiming they truly are being harassed over loan re payments.

Microfinance institutions offer little, collateral-free loans to ladies in low-income groups who possess trouble accessing formal services that are financial. Microfinance financing is generally a sensitive and painful issue that is political Asia. Within the past, governmental leaders used financial obligation waivers as an easy way of wooing voters.

In September, almost 100 ladies borrowers staged a sit-in at Patiala when you look at the north state of Punjab, alleging coercive recovery options for loan payments. Continue reading Low-income Borrowers Claim Harassment by Microfinance Companies in Asia