Beth Rhyne’s latest contribution to the Huffington Post examines specific steps that microfinance leaders are taking to respond to a legion of new challenges facing the industry.
Vijay Mahajan, founder of the microfinance institution BASIX, and widely regarded as the dean of Indian microfinance, is walking the hot and dusty roads of rural India in his kurta pajama and sandals, and as he’s walking he’s thinking about the microfinance industry’s tough year.A crisis of overindebtedness among some clients in Andhra Pradesh, India, political attacks on Mohammad Yunus of Grameen Bank, and academic studies that question the magnitude of microloan impact have all conspired to shake the global microfinance community at its roots.
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