【正文】 度的銀行法所致，班加羅爾小額信貸公司 Ujjivan 北區(qū)首席運(yùn)營(yíng)官、社會(huì)財(cái)富計(jì)劃參與者 Vikram Jetley 表示 。長(zhǎng)期來(lái)說(shuō)，這可能是讓她們擺脫貧困的更好的選擇。s microfinance industry suffered a crisis in 2020 when a No Pago (No Pay) movement led to widespread defaults and violent protests。s website, Ujjivan has pleted four rounds of capital infusions and plans to offer an IPO after three years of profitable operations. We have two different kinds of investors, he noted: pure social investors and private equity investors. As a part of our mission, we have clearly defined that our return on equity would be at best 15%. So someone who is looking for a really aggressive return on equity would never e with us. Established in 2020, Ujjivan uses the Grameen model of lending to groups of women borrowers and focuses on urban microfinance. It currently boasts a % repayment rate from its more than 975,000 customers in 20 states. Regulated by the Reserve Bank of India as NonBanking Financial Companies, microfinance institutions such as Ujjivan must maintain a minimum capital adequacy ratio but cannot take deposits, according to Jetley. So we have to go to the capital markets. Otherwise we will never be able to scale up. According to Narasimhan Srinivasan, author of State of the Sector Microfinance India 2020, the number of microloans in Andhra Pradesh now amounts to almost 10 times the number of poor households in the state. But Srinivasan also reports that not all loans came from microfinance institutions. Borrowers in Andhra Pradesh can also get credit from the Self Help Group (SHG) program, a government poverty alleviation program funded in part by the World Bank that offers microloans at belowmarket rates. Srinivasan found that onethird of loans distributed in Andhra Pradesh were given out by microfinance institutions, while twothirds were given to borrowers in the SHG program. The Andhra Pradesh crisis happened because the government has been going there and promising a 3% rate of interest while my rate of interest even on our debt funding is 12%, said Jetley. How can you survive? This is not an India problem。s one state39。s microfinance sector experienced a wave of defaults that led to the demise of one of the biggest MFIs。s Latest Growing Pains The most recent crisis to hit microfinance began in India39。 “現(xiàn)在，大家都把一個(gè)地方發(fā)生的事情當(dāng)作是全世界都會(huì)發(fā)生的事情，認(rèn)為安得拉邦的情況就是秘魯、海地、塔吉克斯坦或是非洲其他地方的情況。 2020 年，該公司僅有 19 位員工，而發(fā)展至今，已經(jīng)擁有 11 家分支機(jī)構(gòu)， 260 名員工， 10， 000名客戶以及 550 萬(wàn)美金的帳戶規(guī)?！，F(xiàn)在，小額信貸機(jī)構(gòu)開始尋求持續(xù)增長(zhǎng)、降低風(fēng)險(xiǎn)的途徑。近期在沃頓阿瑞斯高級(jí)管理教育學(xué)院小額信貸管理培訓(xùn)班上，討論 的焦點(diǎn)集中在過(guò)度信貸、高速的行業(yè)增長(zhǎng)以及如何在追求利潤(rùn)的同時(shí)更好地實(shí)現(xiàn)小額信貸的設(shè)立宗旨。他指出，過(guò)去 20 到 30 年間，小額信貸的方式方法幾乎都沒(méi)有發(fā)生過(guò)變化。 目前， Fonkoze 是海地最大的小額信貸機(jī)構(gòu)，但它也曾經(jīng)面臨過(guò)類似的尷尬處境。這個(gè)國(guó)家擁有完善的客戶信息交換系統(tǒng)，因此小額信貸公司可以很清楚地知道客戶是否已經(jīng)有負(fù)債。不同環(huán)境下的不同情況，具體事情具體分析，仔細(xì)研究問(wèn)題，而不是將 問(wèn)題全球化，把任何問(wèn)題都當(dāng)作是一定會(huì)發(fā)生在自己身上的事情。s microfinance institutions, including interest rate caps, loan limits and ine ceilings for borrowers. Some observers weled the news。 manipulation of clients by local political forces。s Murray. The sector has to do this and build coalitions. It must also engage in selfregulation. However, this will only work up to a point. Legal regulation will likely be required, but this needs to be done in a way that enables growth. The industry is focusing heavily on finding ways to measure social impact, and setting industry standards by which microfinance institutions can selfregulate. Organizations are also pushing product diversification: After years of extending credit, many microfinance institutions argue that other types of financial services could have an even greater impact than loans. Savings accounts, for example, would give poor househol