Book Reviews : Madhurendra K. Varma, Managing more Effectively: A Professional Approach to get the Best out of People, (2nd edn) New Delhi: Response Books, 2001, 332 pp

ment had been allowed for. This is especially so since most of the microfinance operations today are carried out with the help of money borrowed from international donor agencies. Such a dependence on external sources could significantly modify the nature of relationship between the borrowing poor and the lending intermediaries. The above observations notwithstanding, the book by Biswaroop Das is an important contribution to the otherwise sketchy literature on Indian microfinance. The findings of his study throw open a number of issues that can be taken up by other researchers interested in further exploring the dynamics of this sector. For instance, it is important to examine the social and political implications of the drive for ’marketisation of debt’ of the poor, using a ’homogeneous group approach’. Equally important is to see whether there are any significant externalities arising out of promoting groups with members from heterogeneous social and economic backgrounds. Other than for its intrinsic academic value, this book could, doubtless, serve as a rich source book for training institutions engaged in equipping NGOs with the necessary skills in managing a finance programme with a social development focus.