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Institutional Framework of MFIs and Economic Benefit to Clients in Mumbai Slums
The microfinance movement has experienced economic transition over more than four decades across the world. In the 1990s several microfinance institutions were forced to change their institutional structures to face competition from for-profit organisations. Most studies focus on the relations between the institutional structures and the performance of these MFIs. However, there is little focus on the relations between the institutional framework and the benefits to the clients. This article aims at understanding how clients in the slums of Mumbai have fared.
The authors would like to thank the founder members and staff of the Annapurna Mahila Mandal and Svasti Microfi nance for allowing them to conduct the study. They are grateful to the respondent-micro-entrepreneurs for their cooperation during data collection. They would also like to thank Adel Varghese, Savita and the unknown referee for their valuable comments which helped in improving the quality of this article.
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