This would not have reached the proportions that it did if there was information sharing.
According to the Report of the sub-committee of the Board of the RBI to study the issues and concerns in the Micro Finance sector (Chairman: Shri Y.H.Malegam), an essential element in the prevention of multiple lending and over borrowing is the availability of information to the Micro Finance Institutions (MFIs) of the existing outstanding loan of a potential borrower.