In India, a growing number of for-profit microfinance institutions (MFIs) have emerged, promising social and economic empowerment while, in reality, they have mainly succeeded at enfolding the poor into the vast circuits of global finance. This book ethnographically examines how the emergence of MFIs has allowed financial institutions in the city of Kolkata to capitalize on the poverty of its residents.
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In India, a growing number of for-profit microfinance institutions (MFIs) have emerged, promising social and economic empowerment while, in reality, they have mainly succeeded at enfolding the poor into the vast circuits of global finance. This book ethnographically examines how the emergence of MFIs has allowed financial institutions in the city of Kolkata to capitalize on the poverty of its residents.
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