by AMY KAZMIN
Typical of India’s fast-expanding private microfinanciers – mostly styled on Bangladesh’s Grameen Bank – the loan required Rajiti to repay Rs275 a week for a year, while four other village women, who were also borrowers, were obligated to cover if she could not meet it.
After 15 weeks, she ran out of money. Twice, Rajiti’s four guarantors unhappily coughed up; the third week, she pawned the family’s brass water vessels. That night, she argued bitterly with her husband about their plight, and threatened to immolate herself. Neighbours intervened. The next morning, on October 15, Ramesh went to the field and hanged himself.
Financial Times for more
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