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Microcredit is a curse for Bidi

Microcredit is often billed as the best thing to hit the developing world since the polio vaccine - but is it?
We here at Radio Netherlands Worldwide have been taking a long detailed look at the people on the recieving end of it in various parts of the world.

Check out this story about a woman in a small village in Bengal who says the only alternative to her troubles now is suicide.  And it all started with a cow…

6 Comments on “Microcredit is a curse for Bidi”

  1. #1 George Hartley
    on Feb 2nd, 2010 at 4:31 pm

    Guess it’s part of being an entrepreneur, whether micro or macro, it always involves certain risks.

  2. #2 jasmin
    on Feb 3rd, 2010 at 3:18 am

    Read this:

  3. #3 Corinne
    on Feb 3rd, 2010 at 10:10 am

    I have recently given money towards an internet micro credit scheme - Kiva- and I was wary but did lots of reading on the web and in the end it seemed to be more positive than negative, though I have reservations about the interest charged. It is apparently justified to keep it worthwhile for the people managing the loans. Who Know? But it does seem to help many people too?

  4. #4 Dheera
    on Feb 3rd, 2010 at 10:13 am

    Risks are part of the business, but they shoudn’t be so huge that we have no option but suicide.
    BTW - Radio Netherlands Worldwide decided that we can’t always just be reporting on the misery of individuals without getting involved, so we’re passing the hat around internally trying to raise the money to cancel Bidi’s debt.

  5. #5 Partha Sarathi Goswami
    on Feb 4th, 2010 at 7:20 pm

    Firstly thanks to Eric for bringing out this beutiful video,
    although I am not much agree with Dheera Sujan’s point or emphasis, in my opinion credit is bad for every society, the habit for taking credit is also bad as it ruins only. By independence of our countries we got banks/co-operatives/gramin bank, now we take loans from these authorities not Mahajans, but the system is similar.
    Its seen that only less than 40 percent of people can make thier life better with credits other 60 percent fails, they get ruined.
    But for all this we can not blame the authority who provide loans, because for the above said 40 percent the micro finances provide an opportunity to improve their life, while rest get ruined with bad planning or harsh socio-economic status.
    And after all who are lending you money will ask for return isn’t it so!
    We need to understand and better education in this region can only bring light to this people and their socio-economic status.

  6. #6 jasmin
    on Feb 5th, 2010 at 1:33 pm

    Great to know that RNW has decided to help Bidi, but please do warn her that it won’t mean, that she should spend money unwisely, and you all will bail her out again. I have first hand experience of such individuals.

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