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IGP Director's Seminar | Sohini Kar |Systemic Enfolding: Microfinance, Fina...
Thu 23 March 2017, 16:00 – 18:00 GMT
Systemic Enfolding: Microfinance, Financial Risk, and Imagining Alternatives
Over the past decade, commercial or for-profit microfinance has grown rapidly in India under the auspices of both the government’s financial inclusion agenda, and the increasing recognition of profit at the bottom of the pyramid. Microfinance institutions raise capital through loans from commercial banks, as well as private and public equity. As the poor are enfolded into global finance through these small loans, they are also drawn into the concerns of systemic risk. Drawing on ethnographic fieldwork conducted in Kolkata, India, this talk examines how financial risk comes to shape not just lending practices, but also ways of imagining alternative forms of prosperity and economic wellbeing of the poor.
Sohini Kar is a socio-cultural anthropologist focusing on economic anthropology of South Asia. In particular, she looks at the impact of increasing financialization on poverty and development programs.
Image credit: Simone D. McCourtie/World Bank