The Costly Consequence of Deceit: A Legal and...

The Costly Consequence of Deceit: A Legal and Economic Analysis of Microfinance Companies Fraud

Author Name : Sankalp Khemchand Mirani

INTRODUCTION Microfinance has undeniably played a pivotal role in promoting financial inclusion and empowering marginalized communities. However, the growth of the sector has led to an increase in fraud and unethical practices. It is therefore imperative that the challenges and issues faced by microfinance institutions are identified and addressed to ensure that they continue to deliver on their promise of financial inclusion while adhering to ethical standards within the framework of applicable laws and regulations. A microfinance institution is "a financial institution that provides a range of financial services, including credit, savings, insurance and payment services, to low-income and poor households and their microenterprises.