... All the big players who are in the microfinance space and who are in trouble are the ones who followed the route of starting charitable organisations; started by being social, but ended up becoming crassly commercial or tilted more towards enterprises. These are the ones which did above the line skimming by taking fancy compensation for the MFI employees, and below the line skimming through special purpose vehicles that invested in for-profit operations. Clearly they have lesser credibility and a poorer image than those who started as pure for-profit enterprises. The change of stripes has eroded their credibility and brought their intent into question. ......
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