NGO based microfinance institutions to form Association in AP
Microfinance Focus, Oct 28, 2010: More than 50 NGO based microfinance institutions in the Indian state of Andhra Pradesh will be meeting on October 31st with an agenda of creating an association of NGO-MFIs in the state, Microfinance Focus has learnt.
The need to create such an association has emerged from the growing resentment amongst NGO-MFIs over being clubbed together with profiteering microfinance institutions who are reportedly indulged in unhealthy practices.
As a consequence of the microfinance ordinance which the government issued in Andhra Pradesh, the operations of these NGO-MFIs have been affected and they feel that they are being made to suffer because of a handful of MFIs.
There is a wide held belief that Sa-Dhan, the nodal association for Indian microfinance which has 234 members, is not effectively representing the concerns of NGO based microfinance institutions, according to industry sources. Moreover, the existing Indian microfinance network, MFIN (Microfinance Institutions Network) largely represents NBFC-MFIs (Non-Banking Financial Companies) with no representation of NGO-MFIs.
© 2010, Microfinance News. All rights reserved. 2008-09
2 Comments on “NGO based microfinance institutions to form Association in AP”
Write a Comment
Gravatars are small images that can show your personality. You can get your gravatar for free today!