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    Home»MICROFINANCE

    International Media Coverage of Microfinance Crisis in Andhra Pradesh

    By EditorUpdated:February 15, 2023
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    Several leading International news agencies have picked up the news story about the microfinance crisis in Andhra Pradesh. Links to some of these articles are given below :


    Voice of America – Indian State Seeks Limits on Microfinance After Reports of Abuses

    Microfinance is a fast-growing part of the financial industry in many developing countries. Micro lenders give small loans to poor people to start or expand businesses.

    Microcredit offers a chance to improve lives and reduce poverty. But officials in Andhra Pradesh, in southern India, are investigating if debt collections are linked to a series of suicides among borrowers. Read more on VOA

    When a little help becomes a huge curse

    It’s meant to lift people out of poverty. But the women of Peddammagadda say microfinance has become a curse. This shanty town on the outskirts of Warangal, a city in the south Indian state of Andhra Pradesh, has been overrun by loan agents from India’s highly competitive microfinance industry. Read more on Sydney Morning Herald


    Microfinance: Little loans, big trouble

    Microfinance was supposed to mean economic empowerment for the poorest of the poor, many of them female villagers living in India’s southeastern state of Andhra Pradesh. Instead, the sector has spiralled into crisis in recent weeks, where the state is blaming 57 recent suicides on aggressive loan collectors. Read more on Globe and Mail

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    Editor

    Meet our blog editor, Adrija! With years of experience in the blogging world and a passion for personal finance, Adrija is a valuable asset to our team. She has a keen eye for detail, a knack for crafting engaging content, and a commitment to providing our readers with the latest and most accurate information on money earning opportunities.

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