The recent revelations on the micro finance sector, especially in Andhra Pradesh, has been very discouraging.. It has brought so much of disrepute to Grameen Bank, Mohammed Yunus and even the Nobel Foundation who have pioneered the cause of microcredit/microfinance and even brought respectability to it.
http://www.grameen-info.org/
http://www.thehindu.com/opinion/editorial/article861645.ece
Hope the GOI is able to rein in the unscrupulous blade runners in this sector and eliminate the undesirable names in it. The greedy do not allow the poor and downtrodden in society to come up..The other pattern coming out of this is the cropping up of these scams in Andhra Pradesh. Does it send some signals to the government to look out for..
ge..
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