Fifty-four suicides in Andhra Pradesh have blown the lid off the social posturing by microfinance companies. Before the news of the deaths sank in, the country feted Vikram Akula, head of SKS Micro-finance, as the new messiah of microcredit. A 273 per cent growth in loan disbursement and returns to investors made him a national hero. India's micro-finance institutions claim they followed the fabled Grameen Bank model of Bangladesh. In reality, they went against its principles. And the government did not do enough; regulations are fleeting and they don't touch where it hurts most: the high interest rates. Richard Mahapatra reports from Andhra Pradesh. Arnab Pratim Dutta charts the growth trajectory of India's microfinance institutions