India: Can MFIs succeed in the banking scenario?
According to D Subbarao, the governor of the Central Bank of India, financial inclusion is the most important goal for the country. Given that most MFIs have successfully banked the poor, should they be given a chance to enter mainstream banking by being awarded new banking licences over typical PSUs and private sector banks, which have not been able to reach the poor through their top down approach? Read more here.
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