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August 05, 2016

Is TN nearing its AP moment in Microfinance? : Scroll

A Scroll article titled A tsunami of debt is building up in Tamil Nadu – and no one knows where it is headed writes about rising level of debts in Tamil Nadu with signs of stress heading to a mass default. 

In 2001, the average annual income of these families was Rs 16,000 and average debt at Rs 10,000. Come 2016, annual income has risen five-fold to Rs 80,000. Average debt, however, stands at Rs 2,50,000. This is a 25-fold increase.

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