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This is more shocking news from Andhra Pradesh. Obligatory life insurance sold with microfinance loans may be incentivising overindebted borrowers to commit suicide. Worse yet, it appears that loan officers have been pushing debtors to commit suicide as a way out of debt.

Here’s the gist of a Times of India article by Jinka Nagaraju published earler today:

A government study has found that some MFI agents themselves are encouraging the debtors to commit suicide so that their loans are repaid. This happens because the borrowers are covered by insurance.

Till now, there have been at least 45 suicides reported in the state in the last one-and-a-half months allegedly due to the coercive practices employed by the MFIs in recovering the loans. …

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The Book

Governance across borders: transnational fields and transversal themes. Leonhard Dobusch, Philip Mader and Sigrid Quack (eds.), 2013, epubli publishers.
October 2010
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