COVID-19 puts India's microlenders on the ventilator

COVID-19 puts India's microlenders on the ventilator

Indian coins and currency notes displayed against a white background. Photo: rupixen/unsplash

India’s microfinance institutions (MFIs), the last-mile connect for credit, are on a ventilator and would soon run out of cash. That is because borrowers aren’t paying them back given that the nationwide lockdown to curb the spread of Covid-19 has put their very subsistence at risk.

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