Interest rates on micro-loans to reduce further: Udeesh Ullas, Muthoot Microfin
In the absence of a proper banking system and loan disbursement mechanism in interior places, microfinance has become a lifeline to empower entrepreneurship in rural India. Micro-loans provided by the Non-Banking Financial Companies (NBFCs) not only help people in rural areas to start their own ventures, but also help them liberate themselves from the clutches of the local money lenders.
Muthoot Microfin COO Udeesh Ullas talks to Financial Express Online on how microfinances address the issues like financial inclusion and bringing rural women to mainstream economic activities.