My India First

My India First

Microfinance loans in India: Girls in rural areas trapped in debt spiral

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Microfinance – lending small sums of cash to the very poor to raise them out of poverty – has been extensively taken up in India. However virtually 50 years after its introduction, the outcomes are combined. Microcredits, primarily for ladies, have turned Indian social constructions the wrong way up. Within the agricultural state of Maharashtra, microfinance has change into a dwelling hell, with girls trapped in a spiral of debt and harassed by collectors. In some villages, virtually all the ladies are in debt. Our correspondents report.

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