Microfinance doing fine

The latest study has revealed that microfinance, unlike other sectors of the UK economy, have miraculously escaped the negative consequences of the recession.

The survey carried out by Unitus-Hewitt has demonstrated that employee compensation in India-based microfinance institutions (MFIs) has not been decreased during the recession.

Employee compensation is thought to be a trustworthy metric of the sector’s stability.

It has been discovered that through 2009 MFIs continued to expand and salary cuts didn’t take place.

Sandeep Chaudhary, of Hewitt Associates, said that by examining compensation and benefits practices enabled them to make a reliable assessment of  the state of the microfinance sector.

He concluded that the success of microfinance can be explained by the adoption of  socially responsible business models and that other sectors of the UK economy might be encouraged to implement similar business models.
 


Articles

The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.