Satin Creditcare - 10 times in 3 years.

Just because it is a foreign newspaper does not mean that there is no credibility in its reports. I hope you are not insinuating to its credentials.
Also the the two pieces of reports are linked to people having direct interests in micro finance institutions. The management of SKS is well the management of SKS and the editorial piece is by somebody who is adviser to Bandhan, an MFI which has turned into a bank.

I remember that in this very forum somebody responded to my posts by saying that opinions and views can never be objective and will always have a bias and somebody wrote that " fact is something that is proved to be true."
Now what is an opinion and what should be fact , I leave it to the judgement of the esteemed forum members.
Having said that I must clarify that I briefly worked for an organization that worked on evaluating the impact of micro finance.

 

I am not doubting its credibility. I think that it is possible that there may be exaggeration.

. I have already cleared that I am neither supporting SKS nor opposing it. There are two sides of a coin.

Big Banks hesitate to lend money to poor. Microfinance Cos. do. Sometimes, Politicians force the banks to lend loans (by Loan Melas). But some politicians, for their political benefits, oppose the banks, when they try to recover the loans. This also happens in the case of microfinance companies. A friend of mine, from andhra pradesh, had told me a incident he had witnessed in his village. The local political leader had asked the villagers not to repay their loans. So, when the Microfinance Company officials would visit for recovery, the people would drive them away with lathis/ sticks. Owing to political pressure, police could not interfere in the matter.

Such incidents don't happen everywhere but it does happen.

I think that Microfinance Companies is a necessity. But if the recovery agents are indulging in any illegal acts during recovery, the recovery agents should be punished by law.

You may recall that few months back there were complaints (in cities) that the recovery agents of finance companies and banks were indulging in illegal acts during recovery of bank loans or credit card outstanding dues. They would call the company/ bank customer and abuse him/ her (using bad words mostly). They would also abuse or humilate the customer in public. They would hire goons (/anti social elements) to forcibly recover the vehicle, if the vehicle loan was outstanding. RBI issued instructions to the Banks and finance companies to stop this menace.

 

I refrain from personal comments but I notice contradiction in your statements. On one hand you write that you are not supporter of SKS but your response is clearly indicates a support for MFIs if not SKS. Media reports exaggerated, collection agents driven away by sticks/lathis and banks resorting to illegal practices to recollect their dues.
I do not know if MFIs are necessity or not. But they do exploit the poor. Also comparing banks with MFIs is not fair. I admit Indian banks, especially rural ones do not score highly in customer service. But to conclude that banks hesitate to lend to poor is also exaggeration . Also it is the nature of MFIs to give small loans so its not a question of hesitation or service to poor. That is their business.
I am glad you acknowledge that agents resorting to illegal practices should be punished. I do hope stricter laws are passed in interest of MFI clients.

 

Excerpted from : https://articles.economictimes.indi.../40696602_1_recovery-agent-hdfc-bank-loan-mix





Excerpted from : https://www.bemoneyaware.com/blog/loan-recovery-harassment-pay-up-or-else/
I am not contradicting myself. I wanted to say that Microfinance companies are a necessity but their working/ operation should be controlled by stricter laws.

Note : The above pics and references are just for information. Neither you nor myself, we have any interest in Satin Creditcare or any other Microfinance stocks. So we will close the debate. This thread is just for followers of Satin Creditcare. So, no point in debating on microfinance or banks or financial institutions in this thread.

 

I find it funny. First people make their points. Then when they face counter points they say we should end the debate, restore the objectives etc etc to stop alternative/opposing views to be expressed.
Not that I am too concerned but if you make a point then you must be prepared for a counter view. This is not in response to you but a general fact.
As far as this debate is concerned yes it is closed for me because as I said I have no intent of investing in MFIs

 

I think you are in a fighting mood. I will ignore your comment.

 

We have to wait for cool down

 

I think both of you should refrain from passing personal observations. If you are following the threads then you must have noticed an unprovoked sharp and somewhat personal attack on me. I am just responding to certain comments from a few members who if I may share have also written personal messages trying to justify their views. Quite frankly my objective to join and write in this forum is not to pull anyone up or down. I hardly write with a personalized approach but I have to respond to posts directed at me. I do not agree that this a fighting mood or anger,or maybe it is ? But do not expect me to not respond.

 

It is neither my intention nor have posted any messages or comments which you can label as "Personal attack on you". Can you please quote any of my statements (exclude my post dated 25/04/2016 @ 10:19 PM), from which you have concluded that I have intention to hurt you or launch a "personal attack on you". My post dated 25/04/2016 @ 10:19 PM was a result of your post dated 25/04/2016 @ 11:02 AM, which I did not like.

In fact, I have posted a "like" for your messages/posts, in other threads, which I thought were correct.
In future, I will never post a comment on your messages. Sorry, if I hurt you. But I assure you that was unintentional.

 

Please read my post again. I do not think I need to explain anything but it seems you have missed the point. As far your decision to not comment is concerned well it is your decision. I do not interfere in anybody's decision.

 

I have already read your message. I have not missed any point. I did not expect any explanation from you. Maybe you were angered by the personal attack by some other member/s and the anger was diverted towards me. Let us finish and forget the debate.

 

neither was I angry nor did I direct my anger towards anybody. I only responded to comments directed at me. And if you feel you did not write anything wrong I do not see why you should be sorry . That is reason I wrote that you missed my point.
This is a forum where individual stocks / market dynamics everything related to equity markets is being discussed. There will always be divergent views. If people direct their views at me I will respond accordingly as anybody should. As far MFIs are concerned I shared my views. Does that mean nobody invests in MFIs or takes loan from them. Several people do. There are no fixed parameters. At the end of the day my opinion counts as much as yours but in the end the majority will prevail as I was told by somebody doing research on MFIs.

 

Now you are talking shit/ nonsense. I said sorry, not because I felt that I had done anything wrong. I said sorry because I thought I had hurt you unintentionally. I also wanted to stop the debate. You said " I shared my views". Even I did the same. You said "At the end of the day my opinion counts as much as yours". Right. But I never challenged your views. I never criticized you personally. I differed. So I shared my views. You said "Does that mean nobody invests in MFIs or takes loan from them". To invest or not in a particular Company is a personal choice of the investor and he has his own reasons for the same and invests in the Company.

In a previous thread, you had said "Microfinance Institutions only exploit poor" and "I would not invest in MFI companies even if they were ONLY companies available for investing in stock markets.". That cannot be a reason for not investing in a Company. You may find many such Companies, which have a high reputation, but have exploited others.

I agree with your statement "This is a forum where individual stocks / market dynamics everything related to equity markets is being discussed." The intention behind writing/ posting on a forum (not only this forum, all forums) should be to share our views, have a healthy debate for mutual benefit. Not for fighting, humiliating, testing the intelligence of other members, pulling the legs of other members, launching personal attacks.

Unfortunately, this is happening on this forum. This may be the reason why some intelligent members like RMSC are staying away from this forum.

RMSC Sir has been visiting this forum (which can be seen from "Last Seen" status") but he has not posted any message or commented on any message since a few weeks. Messages and Comments posted by RMSC Sir are always worth reading.

 

I think I requested you to refrain from passing personal observations. Did I ask you to apologize ? I really did not understand the context of your apology and hence I was confused. if you end up making own assumptions and blame others for their response then I really have nothing to write. Quite honestly I expect no apologies from anybody.

And please watch the language that you are using if you are interested in keeping the objectives of the forum at forefront (as you claim). I too can use adjectives against other members but I ALWAYS restrain myself.

And the advice "Not for fighting, humiliating, testing the intelligence of other members, pulling the legs of other members, launching personal attacks. " is applicable for everybody as well. Not that I have to explain my position but unfortunately I have prepared myself for an acrimonious stay here.

As far as you opinion on MFIs is concerned it is now clear that you are supporter of MFI even after you repeatedly claimed that you are no supporter of MFI. Did you not claim you are not a supporter of MFI .

I stand by my views of MFIs. And just because other companies may exploit people it does not give MFI any license to exploit poor. As far as people leaving joining this forum I have already said I do not interfere in anybody's decision (in fact i cannot).

I can go on and on.Let me tell you for the final time. If you make a comment / observation on anybody they will respond.

 

I do not think that my language was improper or wrong. You just did not get my point. You are confused, so you could not get my point. In a previous thread, you had said "If you are following the threads then you must have noticed an unprovoked sharp and somewhat personal attack on me. I am just responding to certain comments from a few members who if I may share have also written personal messages trying to justify their views.". Now you are asking me to watch my language because I also shared a similar view.

Regarding support of MFI, I have always said that MFI is a necessity. I have also given my reasons for the same. Regarding MFI stocks, I donot support nor oppose investing in MFI stocks. Both yourself and myself are not interested in MFI stocks. Then why debate?

 

I wrote that you make your own assumptions and then respond. Hence I seriously waste my time arguing with people like you (especially after you say that MFI is necessity).

 

Why so much tension is there in forum? Peace is spoil unnecessarily

Let us start fresh as friends again.

 

I did not ask you to waste your time arguing with me. Secondly, you are habituated to instigating others and arguing unnecessarily.

One example is your message posted (on 26/04/2016 @ 11:16 pm) in my thread "Will the BJP Government suceed in prosecuting Vijay Mallya?".

I liked your message and posted a "like" to the message. Except, the opening statement ("I bump into you again but I must post this.") of the message, which I felt was unnecessary. But I ignored because I did not wish to start another unnecessary debate.

The thread was created by me. Bu I don't own the thread. I am not admin of the thread. Anybody can post his/her message on the thread. That is not "bumping into me". You could also have posted your message without the first line ("I bump into you again but I must post this."). But you did it purposely. But I ignored it initially . But I have to write this because of your message posted on 27th April 2016 @ 10:40 AM.

 

Ok Ok relax you do not have to be so detailed. I admit I was in bad mood but even then quite frankly my ire was not directed towards anybody.

As far as MFIs are concerned well I really do not know. I think they exploit the poor and I will not invest in MFIs. Are they necessity. I think that is a tough question ? It can never be answered with accuracy.

 

Indian Microfinance Sector in Capital Markets​

:

Perils and Prospects

Prepared by

Vijeta Singh

Research Scholar
Department of Humanities and Social Sciences
Indian Institute of Technology,
Bombay
​

https://www1.nseindia.com/research/content/RP_16_Oct2014.pdf