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The Colours of Joy
In an earlier article, we had spoken about the huge potential for person-to-person lending in India and how DhanaX is tapping into this potential. Rang De is another organization working in this field. While DhanaX is a social business entrepreneurship, Rang De is a not-for-profit organization: this translates into a direct reduction in the interest [...]
Become a social investor!
India has the second highest unbanked population in the world - approximately six hundred and seventy five million people. More than sixty five percent of the people do not have access to a formal banking system. Only fifteen percent of the demand for credit worth ninety billion dollar is met through formal channels. Microfinance is addressing this problem. The basic idea is simple: give a very [...]
Bank on them!
Once, on my way back home, I struck up a conversation with an auto driver about his job. He did not own the auto he was driving. He had taken it on rent for INR 150.00 for half a day, from 6:00 am to 6:00 pm. For the other half, it was rented out to [...]