BEYOND MICRO-CREDIT . Thomas Fisher and M S Sriram . Published by Vistaar Publications . New Delhi . 2002 . Rs 340
Micro finance is fast catching up. As a development strategy, such finance is seen as a toll to address poverty. But there are times when such finance fails to meet the desired goals. Why? This book delves into the reasons behind this failure. It analyses Indian micro-finance and explores how development can be put back into it. The writers and contributors of the book suggest ways in which such finance should be designed so that maximum development objectives are fulfilled.
The diversity of micro-finance practice in India, its many innovative products and organisational features have been discussed. A comparison has also been drawn between the self-help groups in India and similar savings and credit movements in Bangladesh. The book also challenges the conventional wisdom in micro-finance, especially the dominant framework of financial sustainability and outreach to the poor.
The chapters of the book explain how the current analysis of efficiency in micro-finance is simplistic ignoring a range of real economic costs. The 390-page book has been divided into two parts. The first part talks about micro-finance and development and part two dwells on the organisations and institutions that provide such finance. A book which should help developmental organisations.
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