In India, Microloans Can Trip up the Poor

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Oct 2010
Washington, United States, October, 31 2010 - The microcredit revolution has been celebrated for helping poor women in developing countries start small businesses. By borrowing money for purchases such as a buffalo or sewing machine, the women were able to help lift their families out of poverty.But critics say the microcredit model has been perverted by commercial greed in India, with reports of abusive collection methods and sky-high interest rates.

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