India: Rural indebtedness driven by multiple borrowing
According to a study conducted by NCAER Centre for Macro Consumer Research, ‘credit restraints’ lead to multiple borrowing from both formal and informal sectors, and this ends up becoming the primary driver for rural indebtedness. About 11 per cent of the borrowers had multiple loans, of which 21 per cent involved a loan from an MFI. Read more here.
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