Twenty-one million small borrowers exited formal finance. Lenders stopped new loans to those with overdue payments after a microfinance crisis. Many have returned to private moneylenders. This trend reflects tighter lending rules and market contraction. Loan …
Kolkata: About 21 million small borrowers have dropped out of the formal financial system over the past two years as lenders at the bottom of the pyramid stopped giving fresh loans to delinquent cust… [+2831 chars]
