04 October 2009

SKS Microfinance ~ For-Profit, Scalable, Mobile

The LondonTimes piece criticizing microfinance also mentioned...
"In India, Vikram Akula, the founder of SKS Microfinance, the country’s largest micro-lending bank, says he is modelling his growth plans on "Coke, Starbucks and McDonald’s." He describes Yunus as his "inspiration", but says it is time for a younger generation of bankers to "push it to the next level... with the unabashed goal to be extremely profitable."
Interesting ambitions! See here two interviews with Akula... And, since I wrote about the WSJournal's piece on microfinance slum bubble credit crisis, I urge you to read Akula's scathing rebuttal letter.

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