Shares of Bharat Financial Inclusion Limited (BOM:533228, Financial), India’s leading microfinance leading institution, declined in the fourth quarter due to growing concerns over an increase in non-performing loans in the microfinance industry (MFI). MFI operations have also been impacted by post-demonetization political interference in states such as Maharashtra and Uttar Pradesh, adding to industry stress. (Anuj Aggarwal)
From Baron Emerging Markets Fund fourth quarter 2016 commentary.
