Microcredit Providers for Delhi's Poor

Meenal Patole and Orlanda Ruthven

The point of departure for this paper is a handful of puzzles arising from fieldwork with residents of a squatter settlement in West Delhi. We went there to learn about how residents managed their money. It appeared that moneylenders were the only financial service professionals operating in the settlement. Yet it lies in the midst of a fast-growing metropolitan suburb with reasonable infrastructure and a lively labour market. Residents demonstrate there is high demand and ability to pay for such services. Why are there no other financial service providers working there? How important are moneylenders to residents anyway? Are they really the only providers and do they reach everyone and anyone? Why is it that moneylenders have such a bad name when they are sometimes the only ones who are even trying to provide a service?

Full paper - metro-moneylenders.doc [Microsoft Word - 161 kb]

Hari Srinivas -
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