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Commercialisation of Microfinance in India: A Discussion on the Emperor’s Apparel

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Abstract

The paper looks at the growth and commercialization of microfinance in India. It starts out be looking at how the commercial microfinance has evolved internationally by discussing two specific examples and then moves on to examine the specifics cases of four large microfinance institutions in India. The basic argument of the paper is that most of the early microfinance in India happened through donor and philanthropic funds. These funds came in to not-for-profit organizations. However as the activities scaled up, it was imperative to move to a commercial format. The paper examines the growth imperatives and the transformation processes. The paper then proceeds to look at the implications of the transformation process and its effect on the personal enrichment of the promoters of MFI as well as the governance implications. Basically it questions the moral and ethical fabric on which some to the large microfinance institutions are built. It ends by answering a set of questions that may emanate out of this discussion.[W.P. No. 2010-03-04]

Suggested Citation

  • M S Sriram, 2010. "Commercialisation of Microfinance in India: A Discussion on the Emperor’s Apparel," Working Papers id:2539, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:2539
    Note: Institutional Papers
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    Citations

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    Cited by:

    1. Biswajit Ghose & S. Joplinshisha Paliar & Liha Mena, 2018. "Does Legal Status Affect Performance of Microfinance Institutions?: Empirical Evidence from India," Vision, , vol. 22(3), pages 316-328, September.
    2. Saxena, Vibhor & Bindal, Ishaan & LeMay-Boucher, Philippe, 2020. "Social groups and credit shocks: Evidence of inequalities in consumption smoothing," Economic Analysis and Policy, Elsevier, vol. 68(C), pages 311-326.
    3. Gemunu Nanayakkara & Lokman Mia, 2016. "Does product diversification and emphasis on profitability in microfinancing alleviate poverty?," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 23(1), pages 21-56, June.
    4. Sushanta Kumar Sarma, 2017. "Theorization of New Practices in Emerging Organizational Fields," Vikalpa: The Journal for Decision Makers, , vol. 42(3), pages 131-144, September.
    5. Jean Paul Bonnici & Simon Grima & Sharon Seychell, 2019. "An Analysis of Efficiency and Productivity Change in Microfinance Institutions in the European Union: A DEA-MPI Approach," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 9(1-2), pages 94-123.
    6. Nilanjana Sengupta, 2013. "Poor Women’s Empowerment: The Discursive Space of Microfinance," Indian Journal of Gender Studies, Centre for Women's Development Studies, vol. 20(2), pages 279-304, June.

    More about this item

    Keywords

    growth; commercialization; microfinance; internationally; philanthropic funds; not-for-profit organizations; imperative; commercial format; transformation process; implications; governance; institutions; emanate; discussion;
    All these keywords.

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