Comments on: Credit crisis: Access to credit http://enagar.com/2009/12/12/credit-crisis-access-to-credit/ A daily doze of random thoughts, jokes and forwards Fri, 18 May 2012 05:27:43 +0000 hourly 1 http://wordpress.com/ By: Ankur Aggarwal http://enagar.com/2009/12/12/credit-crisis-access-to-credit/comment-page-1/#comment-41002 Tue, 15 Dec 2009 08:39:45 +0000 http://enagar.com/?p=2123#comment-41002 thats like throwing away baby with the dirty bathwater. i know loans are getting misused but the essense of the article is that poor entrepreneurs often need capital more desperately than the rich

]]> By: Prax http://enagar.com/2009/12/12/credit-crisis-access-to-credit/comment-page-1/#comment-40998 Tue, 15 Dec 2009 00:03:33 +0000 http://enagar.com/?p=2123#comment-40998 what about those that take farm and business loans and invest them into tv fridge ac when they barely get 2hrs e/c and hardly ever pay bills ?and those that are used for a daughters marriage?
this happens regularly.
Plus rich in india have contacts .. some political and then the magical door to PSU debt opens .. havent u talked about that rotten culture?

]]> By: Ankur Aggarwal http://enagar.com/2009/12/12/credit-crisis-access-to-credit/comment-page-1/#comment-40989 Sun, 13 Dec 2009 22:40:27 +0000 http://enagar.com/?p=2123#comment-40989 well u just now listed the problem.. nobody trust the poor with their money

]]> By: Satish http://enagar.com/2009/12/12/credit-crisis-access-to-credit/comment-page-1/#comment-40988 Sun, 13 Dec 2009 15:12:14 +0000 http://enagar.com/?p=2123#comment-40988 A reasonably wealthy person can easily give loan for lesser interest to a poor person, who can develop from that loan. But, most of the time, the problem is the wealthy person does not have any of knowing whether the poor person repays or not. In that case, they may loan to micro finance companies, and they charge more interest because of the risk involved in that.

I am not giving any loan to any poor person just because, I don’t know who returns my money and who does not. If anyone can give me 100% assurance of my money, I can put all my investments there. I will be very happy, if somebody develops by using my money. But, in many places, it is very difficult to find people who are going to use that money to improve their state, and who just spends it. If that problem is solved, everything would be solved automatically.

]]> By: Ankur Aggarwal http://enagar.com/2009/12/12/credit-crisis-access-to-credit/comment-page-1/#comment-40984 Sun, 13 Dec 2009 03:41:07 +0000 http://enagar.com/?p=2123#comment-40984 one thing is sure that the microfinance companies in india do charge between 18-24% as interest rates. so its not less than what a loan shark charges. however i could not find data about what is the NPA and recovery levels of these companies

]]> By: Khalil Sawant http://enagar.com/2009/12/12/credit-crisis-access-to-credit/comment-page-1/#comment-40983 Sat, 12 Dec 2009 17:12:27 +0000 http://enagar.com/?p=2123#comment-40983 Need to study “Muhammad Yunus”‘s ways and see if they work for us.
Crediting to poor people may not be as risky as banks may think :)

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