I know for a fact that there are zillions of unsecured lending sources in India. They go under the popular name"chit funds". It is  something similar to the Grameen model but the system is not at all robust. There are a lot of chit funds which have gone bust. But that has not stopped the mushrooming of new funds from time to time.So there are 2 kinds of systems in place. One system which is based on trust and works for atleast 5-6 years, the other system is run by fly by night operator and always carries great risk.

I think there is a case for providing some sort of platform to these entities .May be a mobile platform. In my house back in India, my maid servant’s son runs a chitfund where the peer to peer lending happens to start from 100 INR ( $2.5) . A distant relative of mine also runs a chitfund which lends up to $1000. So there is a decent diversity in the nature of such entities. I am sure there is a need for better communication, may be remiding them of the payments, disseminating common messages to the group..Only issue is - Will the users pay for this small little mobile platform ? It cannot be a Internet service as we are talking about a completely different audience. But Mobile platform, yes ..as it has become a part and parcel of everyone’s life in India. Will it happen ? Is anybody already working on it ?
Its an exciting to be in India I guess :)