Thursday, April 20, 2006

Debt Trap of Microfinancing Institutions in Andhra

Read this article in the Hindu and culled out the webpage. It makes me shudder after reading it. Where is the accountability, interest rates going up to 50% by these so called NGOs are really very usuric in nature. Since when have MFIs become shylocks.

http://www.thehindu.com/2006/04/20/stories/2006042005220900.htm