BANDHAN: Commercializing a Social Cause

Microfinance involves providing financial services to the needy and unbanked or underserved people of the world and customizing the products to suit their needs and convenience. It began with giving small loans (microcredit) but slowly started incorporating other financial services including insurance, transfers, payments, savings, etc. While the history of microfinance can be traced back to the middle-ages, its more modern version was pioneered by the Grameen Bank of Bangladesh, Latin America’s ACCION International , and India’s Self employed Women’s Association (SEWA )...