Manna for the masses – The demand for small loans from the country’s urban and rural poor is estimated at Rs 45,000 crore.
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Dec 21, 2003
Why then hasn’t micro-financing taken off?
Ms Nilekani has funded, Sanghamitra, which is a micro-financial institution that’s targeted at the urban poor. If you’re still wondering what such an institution does, well it’s actually pretty simple; It offers loans to the poor at decent rates.