How can we save India's MFI industry?

One-and-a-half decade ago, state-run Indian Bank came very close to a collapse when its accumulated losses wiped out its equity and reserves. The Chennai-based lender had made huge losses as it had to set aside money to provide for its bad assets. Now, Vijay Mahajan-promoted Bhartiya Samruddhi Finance Ltd (BSFL), India’s oldest microfinance institution (MFI), is also collapsing under the burden of bad loans.

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