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I agree with your bit about solidarity in India, but you might be a bit mis-informed about the interest rates. The CoF (cost of funds) to SKS is in the vicinit
by shrikant 16y ago
I agree with your bit about solidarity in India, but you might be a bit mis-informed about the interest rates.
The CoF (cost of funds) to SKS is in the vicinity of 12-14%, and the norm is to add 10% on top of that. More middle-of-the-curve MFIs usually charge 30%+.
Loan sharks in villages typically charge 100% and/or servitude, and are more often than not the cause of loan repayment related suicides.
- shrikant 16y agoI know my comments have a few upvotes attached to them already, and I don't really see any point in cribbing about karma points anyway. However, it would be useful to me if the person who downvoted both my comments in this thread were to drop a line explaining why/how I was detracting from the conversation in any way...