Currently, there is a lot of competition in the microfinance space, and everyone wants to take a piece of it. But what actually happens is willfull defaulting customers are easily shifting from one MF lender to another and defaulting on the lender whom they have borrowed in the past. I am staying in a village, it was really tough to get a loan before COVID by an illiterate villager, but after COVID, I see about two to three microfinance loan officers every week in my village asking villagers to avail loans from their companies. I think this is going to be a be a bubble. If they want to get protected from bubble then they have bring changes in the way they are giving loan.
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