“A number of non-banking finance companies have entered the rural microcredit market. Many microcredit agencies have been charging interest rates not very dissimilar to those charged by moneylenders. Borrowing then becomes more to meet pressing consumption needs, rather than for farming or small-scale enterprises.”

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About M. S. Swaminathan

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"A number of non-banking finance companies have entered the rural micr…" — M. S. Swaminathan | Daily Quotes