Get Ready For Social Business Banks
Future of microcredit is part of the broader question of the future of financial system itself. Microcredit in India is still at an early stage of expansion, yet to overcome doubts and hesitations. Ultimately, the entire informal sector has to be addressed by microcredit, because there is no other financial service available for it. It should expand itself to formal labour, too, offering housing, education and insurance.
Access to financial services can dramatically change people’s lives.
The mainstream financial system has turned into a vehicle for wealth concentration. It provides financial facilities to those who are already financially fortunate. It doesn’t intend to get involved with financially unreached people.
Grameen Bank
