India: Stories of Responsible Finance Impact
This Case Study shows how IFC took pro-active measures at the earliest signs of overheating in the Indian microfinance sector. A year prior to the crisis IFC started working with local credit bureaus to reduce information asymmetry between borrowers and lenders, and in parallel began tackling over-indebtedness and multiple lending issues, also promoting social performance management and responsible finance practices.
IFC has worked with its clients on product design, process optimization, grievance mechanisms, and risk-management, applying responsible finance practices to these areas. IFC integrated responsible finance principles into all stages of engagement with the clients, making them a part of due diligence process and portfolio review.
Lessons from a decade of experience in India’s microfinance sector have continued today. Find out more about IFC’s ongoing work in supporting sustainable and responsible finance practices in India, and their positive influence on womens’ empowerment and well-being.