Financial services to the poor: the microfinance dilemma in Andhra Pradesh

In India, microfinance and associated strategies of forming self-help groups came about in response to a newly independent nation and its need to include the rural non-banking population into national structures of development and governance. This article examines how the rapid growth of microfinanc...

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Bibliographic Details
Published inDevelopment in practice Vol. 26; no. 7; pp. 828 - 839
Main Authors Gajjala, Venkataramana, Gajjala, Radhika
Format Journal Article
LanguageEnglish
Published Abingdon Routledge 02.10.2016
Taylor & Francis Ltd
Subjects
Availability
Banking
Civil society - NGOs
Companies
Finance
Finance companies
Financial services
Governance
Labour and livelihoods - Microfinance, Poverty reduction
Microfinance
Nonprofit organizations
Private sector
Rural areas
Rural communities
Rural population
Rural poverty
Self help
South Asia
Support groups
Technology - Media
India
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Summary:In India, microfinance and associated strategies of forming self-help groups came about in response to a newly independent nation and its need to include the rural non-banking population into national structures of development and governance. This article examines how the rapid growth of microfinance institutions during the last two decades - especially in the context of the more recent transition from non-profit to for-profit non-banking finance companies (NBFCs) - has led to a significant increase in the delivery of financial services to the rural poor. In Andhra Pradesh, the simultaneous existence of some of India's most prominent microfinance institutions (MFIs) and their mobilisation of self-help groups - with state backing and linkages to banks leading to relatively easy availability of funds - has led to a tremendous surge in the availability of credit across the state.
ISSN:0961-4524
1364-9213
DOI:10.1080/09614524.2016.1210568