Ujjivan Microfinance Forays Into Haryana
While inaugurating the branch at Jind, G Naga Reddy, Distribution Manager of Ujjivan said, “Rich people are flush with options of all kinds of financial services. However, their counterparts are not so lucky and hence very often they end up paying heavy prices, particularly for financial services. These informal sources of lending have led them to a vicious cycle of poverty, which sometimes passes on to generations. According to our estimate, the average interest rate charged by moneylenders is 5 to 10% per month....