Forbes.com: Microcredit is booming in India, but the loans don't often pull people out of poverty


AUTHOR: Claire Cain Miller
DATE: 11/27/2006
CLASSIFICATION: microfinance news
DESCRIPTION:

In the K.R. Puram Slum in Banglore, India, a group of 15 women have borrowed $330 and meet weekly to make repayments. The loans were meant to serve as capital for them to start small businesses and, eventually, lift themselves out of poverty, but the women say the loans haven't turned into new income.

DOWNLOAD: Forbes.com: Microcredit is booming in India, but the loans don't often pull people out of poverty