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This paper aims to investigate the effect of delayed water curing on the mechanical and microstructural properties of fly ash-based geopolymer paste-blended with Ground Granulated Blast Furnace Slag (GGBS) with different rest periods.

The blended geopolymer paste was composed of GGBS (15 per cent of the total weight) and the base material, Fly Ash (FA). The blended mix was activated by activator solution (Sodium hydroxide and Sodium silicate) containing 6 per cent Na₂O of total base material. The effect of delayed water curing has been studied by gradually increasing the aging period (Rest Period) from 2 hours to 24 hours in the formation of activated outcome along with Calcium Silicate Hydrate (CSH). To analyze the mechanical and microstructural properties of the resultant blended geopolymer paste, compressive strength test, FESEM and XRD have been carried out. Moreover, a long-term durability test subjected to sulphate exposure has been performed to evaluate the durability of the designed sustainable geopolymer paste.

The present paper shows that the delayed water curing incorporates secondary heat input enhancing the partial polymer formation along with CSH. Slag-blended AAFA-based geopolymer paste is seen to exhibit quick setting property. Also, AAFA-based geopolymer paste samples subjected to longer rest period show early strength gain at a high rate under water curing as compared to those subjected to the shorter rest period.

To the best of authors’ knowledge, the effect of delayed water curing on the mechanical and microstructural properties of slag-blended AAFA-based geopolymer paste has not been studied before.

The purpose of this paper is to examine the factors affecting the financial sustainability of the Indian Micro Finance Institutions (MFIs) post-Andhra Pradesh (AP) crisis

Regression analysis is used to test the significance of the independent variables on the variable of interest, i.e. the operational self-sustainability. Three-stage regression analysis, i.e. Partial F-test, residual analysis and Box–Cox-type transformations is applied to see the impact of the variables on financial sustainability of the Indian MFIs. The study is based on the data of the Indian MFIs during three fiscal years from 2010-2011 to 2012-2012 reported in the Microfinance Information Exchange (MIX).

The authors’ results indicate that in 2010-2011, the linear regression model seems to be good fit to the data, whereas in 2011-2012 and 2012-2013, the appropriateness of the linear regression models seems questionable (the error distribution seems to be skewed). It is observed that square root of the dependent variable exhibits adequate fit for 2011 and 2012. Therefore, a substantial change in the model for estimating sustainability of Indian MFIs is observed in the post-AP crisis era. It is observed that portfolio quality and capital management are important determinants for the financial sustainability of the MFIs.

This study identifies the factors affecting the sustainability of the Indian MFIs, especially after the reforms following the AP crisis in India. The study suggests that from 2012-2013, the factors such as write-off ratio, capital-to-asset ratio, ratio of financial revenue to assets and provision for loan impairment-to-asset ratio are the main factors which have significant impact on the operational self-sufficiency (OSS) of Indian MFIs. This indicates that the quality of portfolio must be improved to reduce the vulnerability of the Indian MFIs.

After the AP crisis, the performance of Indian MFIs is stabilized to a greater extent. The various performance indicators are improving.

The paper provides a detailed comparative analysis of the factors effecting financial sustainability of the Indian MFIs, before and after the regulatory reforms in 2011. A substantial change is observed after 2011-2012. Such a study on the Indian microfinance sector seems to be new (to the best of the authors’ knowledge).