New Delhi, Oct. 9 -- The microfinance sector must moderate its growth and focus on responsible lending to prevent borrowers from falling into debt distress, as rapid expansion and multiple borrowing have contributed to repayment difficulties in parts of India, MS Sriram, Professor at IIM Bangalore, said.

Speaking on the sidelines of the 21st Annual National Conference on Inclusive Growth, themed around microfinance, Sriram said the sector's rapid growth in recent years had led to a crisis in certain regions, highlighting the need for a more sustainable approach to lending.

"The problem with microfinance is that it has had very rapid growth in the past years and as a result of which has resulted in some sort of crisis because of over-len...