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    Home»Microfinance

    India’s oldest Microfinance NBFC – Basix facing collapse ?

    ADITYABy ADITYANovember 27, 2022 Microfinance
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    Started in 1997 by Vijay Mahajan, Bhartiya Samruddhi Finance Ltd (BSFL)  is India’s oldest NBFC-MFI. It is now collapsing under the burden of bad loans in Andhra Pradesh where borrowers have refused to repay their microloans.

    Unless the company manages to get fresh funds, BSFL’s bad loans are growing and threaten to wipe out its entire net worth and reserves in the coming months. Vijay Mahajan speaks to Tamal Bandyopadhyay on the issues facing his company and his life’s work.

    Livemint has a summary of the interview here and the full interview follows in the video below:

    Duration: 10 Minutes

    BASIX AND THE BURDEN OF BAD LOANS

    India’s oldest Microfinance NBFC – Basix facing collapse ?
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    ADITYA

      Aditya is a talented content writer with a passion for crafting engaging and informative content that resonates with readers. With 10 years of experience in the industry, he has honed his writing skills to produce high-quality content across a wide range of topics.

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