Microfinance in Pragati

September 2, 2008

I have an article in this month’s Pragati (PDF, 3.8 MB) about microfinance. I’ve written about how there’s more to microfinance than microlending, how broadening access to savings accounts and small insurance is much more important than lending, and how the most significant impact of microfinance so far is not necessarily the financial bits but the organisational bits.

If, as is likely, you find this incredibly dreary and boring, do read the issue anyway for Harsh Gupta’s excellent article on liberal solutions to protests in Kashmir.


In Pragati

June 4, 2008

I have an article on how finance is actually infrastructure and financial sector reforms¬†out in this month’s edition of Pragati. The link to the article gives you an excerpt and you’ll have to download the PDF version (slightly less than 2 MB) to read the full thing.

The article had a¬†checkered history. I had almost finished researching it when I suddenly had to dash to Delhi. When I returned to Bangalore I fell sick and told Ravikiran and Nitin I wouldn’t be able to write it after all. The fact that I had no furniture in this point and writing would have to be done propped up against a wall may have contributed. Then I came to Bombay where I had a guesthouse with a dsek, and called up and offered to write it after all.

By this time I was five days over deadline and had to write it in a mad rush between ten and two in the morning at my guesthouse. The next day I had to check out of the guesthouse and didn’t have a new one to shift to, so I finished the article between noon and three in the afternoon while squatting in an unoccupied cabin next to an FX dealing room. Sadly, I had finished the bit about currency markets and was writing about financial inclusion and regulation by then.

Anyway, the result of all this was that I wrote the article in practically stream-of-consciousness style. As a result, not only was it a week over deadline, it was 1200 words over the word limit. It is a tribute to Ravikiran’s mad editing skillz that the article is now within the limit and still readable.