The microfinance sector in India has been growing rapidly in both scale and institutional diversity, making it the largest in the world. Indian Microfinance: The Challenges of Rapid Growth is a comprehensive account of various components of the Indian microfinance sector. It provides an overview of the main challenges facing the sector, the progress of its main delivery models, issue relating to there emerging microfinance services of microinsurance and money transfers, ongoing efforts in training and capacity building, opportunities facing commercial financiers such as bankers and social venture capitalists and an account of ongoing research in the sector. Apart from containing extensive original material, the book synthesizes the findings of other recent studies and reports. It identifies various requirements for policy and regulatory change, a contribution which is particularly timely in view of the new microfinance bill being considered by the central government. The book takes note of the lessons from the conflict in 2006 between the State Government of Andhra Pradesh MFIs in the state, which is analyzed in a separate chapter. The main challenge facing the sector is identified as the need to enhance borrower, public and regulatory support and understanding, by increasing transparency in dealings with borrowers and by educating the public. Lucidly written, the book will serve as a reference document for various players in the sector including practitioners, bankers, insurance companies, venture capitalists, regulators, donors and policy makers and for the development community generally. Given heightened interest in the sector with the Nobel Prize awarded to Muhammad Yunus and the Grameen Bank, it will also be of interest to academicians, media persons and the intelligent layman.
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