Microfinance institutions are a menace

Anna. That’s the description they use in this run down Nagpur locality for the recovery boy.

Everything else must wait, but the group of five says they can’t miss the weekly meetings with the MFIs’ recovery agent, who, they say, knows they need small sums in their pressing times. “Installment,” she says, “is a fact of life.” Micro finance, says a woman borrower, “brings happiness in the beginning, tension in the end.”

Microfinance institutions are a menace

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