Debt Speak: Credit and Working Women

Debt Discourse: Navigating Credit in the Lives of Working Women

In the wake of the pandemic, countless working individuals have been forced to borrow money to make ends meet. Microfinance Institutions (MFIs) have exploited this vulnerability, imposing exorbitant interest rates and employing aggressive collection tactics. Among those most severely impacted are women workers, who often bear the burden of repaying these loans and endure harassment and threats from debt collectors.

We try to be dedicated to uncovering the real-life effects of this debt crisis on women and their families, children, by engaging directly with female workers from diverse livelihoods for their survival—such as domestic workers, construction labourers, street vendors, farmhands, and small business owners—across urban, rural, and coastal regions of Puducherry.

We are focused on understanding how the issue affects women, breaking them down both mentally and emotionally. Our goal is to help them comprehend how microfinance institutions operate and to find ways to combat the exploitation often seen in informal lending practices and microfinance institutions. 

Alongside collecting testimonials, we are examining the opaque bureaucracy of financial institutions. While these institutions demand transparency from low-income households, their own internal workings remain shrouded in secrecy. We aim to shed light on this disparity and promote greater accountability.

In the coming year, our initiative will gather stories from women who have struggled with the aggressive tactics employed by microfinance institutions. By compiling and publishing these testimonies, we aim to drive positive change and build a more inclusive financial system.