) has historically remained below 8 per cent in India. However, in the central, northern, and north-eastern regions of India …

exogenous change in the liability structure offered by a microfinance program in India, which shifted from individual to group … liability lending. We find evidence that the lending model matters: for the same borrower, the required monthly loan … installments are 11 percent less likely to be missed under the group liability setting in comparison with individual liability. In …