Ramakrishna NK

Ashoka Fellow
India
Fellow Since 2011
This description of Ramakrishna NK's work was prepared when Ramakrishna NK was elected to the Ashoka Fellowship in 2011.
Introduction
Ram is generating a systems-changing way of delivering credit services to the poorest individuals by blending peer-to-peer lending with a strong back-end delivery system that controls interest rates. By carefully prequalifying citizen organizations (CO’s) and establishing robust back-end processes, he repurposes CO’s to act as branches and for the first time, deliver loans at interest rates as little as 8.5% p.a. Ram questions the increasing focus on ‘access’ to micro-credit without equal, if not more, focus on ‘affordability’ of micro-credit. He believes that efforts to increase access to credit without first tackling affordability of credit, compromises the core purpose that underlies micro-finance: bringing people out of poverty. To bridge this gap, Ram is employing various strategies that bring both credit and investors closer to the poor.
The New Idea
The Problem
The Strategy
The Person

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