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Home » News & Opinion » India’s Microfinance Industry to Share Data

India’s Microfinance Industry to Share Data
Bellman, E.

India’s top MFIs will be joining credit bureaus to ensure the world’s poorest borrowers do not get overburdened with too many microloans. India’s Microfinance Institutions Network (MFIN), which represents 31 of India’s largest microfinance companies, said its members will start registering details about their borrowers with the national credit bureaus. MFIs will provide borrowers’ names, addresses and loan details to the Credit Information Bureau (India) Ltd. and High Mark Credit Information Services Pvt. Ltd.

While default rates on the tiny loans for rural entrepreneurs are still below 2%, increasing competition between microlenders to capture customers means the MFIs have to start keeping track of each borrowers’ exposure.

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12 Mar 2010
Microfinance

microfinance report gives valuable insight.

India

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Posted: 11 Mar 2010
Source: The Wall Street Journal
Originally Published: 09 Mar 2010