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The Synergy of Microfinance

The Synergy of Microfinance
Fighting Poverty by Moving beyond Credit

First Edition
  • Binod B. Nayak - Independent Researcher and Financial Consultant, Washington, DC

January 2019 | 372 pages | SAGE Publications Pvt. Ltd

The Synergy of Microfinance underlines the significance of innovative financial and risk management tools and non-financial complementary services by microfinance institutions in poverty alleviation. It undertakes a nuanced analysis of financial instruments— microcredit, microsavings, microinsurance, microleasing and payment systems for money transfer— and non-financial services such as social intermediation, livelihood promotion and access to broader market place. 

Given the diminished expectations on microcredit impact, the book highlights results from randomized control trial (RCT)-based studies around the world. It argues that exclusive access to microcredit alone may not suffice in alleviating poverty on a mass scale and could pose a financial risk for poor households or households that over-borrow. There is also a discussion on the Andhra Pradesh microfinance crisis of 2010, and the developments that took place in its aftermath.


On Poverty: Who Are the Poor? Why Poverty Persists?
Borrowing and Saving: A Critique
How Small Loans Can Make a Big Difference: The Birth of Microcredit and Its Evolution into Microfinance and Beyond
Microcredit: Anatomy of an Instrument That Revolutionized Lending
Microsavings: Voluntary Savings for the Poor
Microleasing: Improving Access to Tools and Technology
Remittances, Payment Systems and Microfinance
Complementary Non-financial Services
Critiquing Microfinance
The Synergy

It is a unique book…a must for every micro-finance practitioner…rare blending of qualitative and quantitative analysis…. A must reference for those who want to delve into the gamut of origin and growth of micro-credit processes as well as interested to know the status of various policy decisions.

Journal of Rural Development, April-June 2015

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