In the first part of the series Loans for poor in Bengaluru, we explored how the system of loan from informal sources with high interest rates is pushing the poor deeper into poverty. The second part explored the system of bank loans for poor, to see whether it benefits the poor who don’t have securities. In the third part, we examine how micro-finance institutions function, and what do poor people feel about it. Mariyal, a 33-year-old domestic worker living in Ejipura slum in Bengaluru, has taken a Micro Finance Institution (MFI) loan for the first time. She has borrowed Rs…
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