SKS Microfinance to cut rates
SKS Microfinance Ltd. said it will cut interest rates slightly in Andhra Pradesh state, where the microlending industry is trying to fend off rising hostility after a string of suicides by borrowers who were unable to pay back loans.
SKS Microfinance Ltd, already deep in the red with micro lending problems in Andhra Pradesh, is now facing recovery problems in parts of West Bengal and Gujarat as well.