Former Reserve Bank of India governor YV Reddy could save the banking system from the impact of Lehman collapse but India’s microfinance industry—which had been growing at a breakneck speed—got almost wiped out. The event came to pass when the promulgation of a state law in Andhra Pradesh, the hotbed of microfinance, put severe restrictions on its activities. In 2010, SKS Microfinance Ltd got itself listed on the bourses, the second microfinance entity globally to do so after Banco Compartamos in Mexico in 2007, but months after that the Andhra Pradesh law nearly killed SKS and many others. If you want to know what exactly happened in India’s growing microfinance industry, read ‘From Lehman to Demonetization’. The book dissects the crisis triggered by the Andhra Pradesh law, the industry’s journey through hell and back, and its display of maturity and resilience. However, not everyone has learned lessons from the crisis and hence we see new hotspots. Demonetization and frequent farm loan waivers have also impacted their health. It catches all these and offers pointers to the future. To read the book:  http://amzn.to/2AucbeQ …see more