SKS Microfinance: Managing Growth and Continuity of a Social Enterprise
| Case Code: LDEN073 Case Length: 25 Pages Period: 2009-2010 Pub Date: 2011 Teaching Note: Available |
Price: Rs.500 Organization : SKS Microfinance Industry :Microfinance Countries : India Themes: Social Entrepreneurship, Entrepreneurship, Venture Financing |
Abstract Case Intro 1 Case Intro 2 Excerpts
Evolution of Micro Finance in India
The post-independence era of India was marked by high indebtedness and the inefficiency of financial services. The battle against poverty included augmenting access of credit to the poor as an inseparable part of the economic policy by the Government of India (GoI). Despite taking a socialistic approach toward reducing poverty, India could not make any significant improvement for two long decades after independence and the poverty rate remained between 50-60% during this period. It even crossed 60% in the late half of the 1960s.
Of the total Indian population, 80% resided in rural areas, contributing 40% toward the country's Gross Domestic Product. Of the total credit lent via the formal channel (i.e. Banks), only 2.2% went to agriculture and that too exclusively to big and medium farmers. As per the findings of the Reserve Bank of India (RBI), 90% of the total rural indebtedness was constituted of informal credit (which went down to 70% in 1971) in 1951...
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