"...When [Samit Ghosh] started Ujjivan—his motive was to find professional fulfilment, to round off his career in banking with serving the poor—it was with a sense of hard-nosed idealism that, at the end of the day, recognised micro credit as a loan product. Most MFIs were focussed on the rural areas, and ignored the huge market for micro credit in the cities and small towns. Of the 600 million poor, 100 million were in the urban areas, mostly untapped. He decided to focus on that segment. Carol Furtado, COO—South, Ujjivan, says he kept away from Andhra Pradesh for the same reason: The state was too crowded by other MFIs..."

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