Why microfinance crisis is still not over even 10 years after the clampdown

Andhra Pradesh's Ordinance to regulate MFIs has been a double-edged sword for the poor, with some digging deeper into debt, writes Namrata Acharya

This year, cotton plantation has been particularly good in Vattpally, a village in the Sangareddy district in the southern state of Telangana. Cotton plucking is at its peak, and so is the demand for workers. 

Last year, Lakshmi was getting Rs 8 for plucking one kg of cotton, but this year the rate has increased to Rs 10 for a kg. At 6.30 a.m, she is already late to work. She needs to pluck at least 20 kg of cotton, as she has to earn at least Rs 200 by the end of the day. A month ago, she had  taken