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Relative indemnity: risk, insurance, and kinship in Indian microfinance

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  • Kar, Sohini

Abstract

With the growth of commercial microfinance in India, the poor have been increasingly enfolded into circuits of global finance. In making these collateral-free loans, however, microfinance institutions (MFIs) engage in new forms of risk management. While loans are made to women with the goal of economic and social empowerment, MFIs require male kin to serve as guarantors. Drawing on fieldwork in the city of Kolkata, I argue that through the requirement of male guarantors, MFIs hedge on kinship, even as they speculate on the bottom of the pyramid as a new market of accumulation.

Suggested Citation

  • Kar, Sohini, 2017. "Relative indemnity: risk, insurance, and kinship in Indian microfinance," LSE Research Online Documents on Economics 67776, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:67776
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    Cited by:

    1. Maryann Bylander & Phasy Res, 2021. "‘If You Fall, Stand Up Again’: The Moral Nature of Financial Literacy in the Global South," Development and Change, International Institute of Social Studies, vol. 52(1), pages 26-53, January.
    2. Caroline E. Schuster, 2021. "‘Risky Data’ for Inclusive Microinsurance Infrastructures," Development and Change, International Institute of Social Studies, vol. 52(4), pages 780-804, July.

    More about this item

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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