Why microfinance story has gone horribly wrong?

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Uploaded by on May 13, 2011

The sheen is wearing off fast for the country's microfinance firms. The story, which started off well with the purpose to achieve poverty alleviation, has now gone horribly wrong. The key to the failure of micro credit stories seems to be the unrestrained selling of cheap credit to poor people, often without proper checks and balances.

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