Book Release Note: April 2nd 2015
Where Angels Prey (The first Microfinance thriller novel)
by Ramesh S. Arunachalam
FINANCIAL THRILLER EXPLORING THE CARTEL OF COMMERCIAL MICROFINANCE
"Behind every successful fortune there is a crime." -- Mario Puzo, The Godfather
Microfinance: providing financial services for small businesses or entrepreneurs, especially in poor or rural communities, who do not have access to traditional banking or financial services. Sounds wonderfully altruistic, but just ask the people of Andhra Pradesh what their thoughts are about microfinancing and you'll probably hear a completely different answer.
Ramesh S. Arunachalam, economic development strategist and the author of a new novel, Where Angels Prey, reveals the devastating truths that often lurk behind the good intentions of Wall Street's interest in India's poor. Loosely inspired by real life events in Andhra Pradesh, Arunachalam's fictionalized account exposes the double-edged sword that emerges when no safeguards are put into place.
While the rest of the world reels under a severe financial crisis, India's microfinance sector enjoys an unprecedented boom. Why on earth are people investing such huge amounts of money in an obscure industry, especially at the time of global recession, and why is Wall Street suddenly so interested in India's poor? That is exactly what Robert Bradlee, senior correspondent with The New York Post, sets off to investigate, along with his journalist friend, Chandresh. Little does he know that his search for a scoop would lead him through a complex multi-pronged web of deceit, fraud, manipulation and financial crime, remote controlled from distant lands by an entire chain of financial sector stakeholders. Gripping, racy and meticulously researched, this financial crime novel weaves in and out of the affluent world of high-powered boardrooms and the grueling poverty of the remotest villages of India, to reveal the devastating truths that often lurk behind "good intentions."
A thrilling, intense and entertaining read, Where Angels Prey, has received very positive comments[1] from several noted personalities:
· "I have enjoyed reading the book, "Where Angels Prey". The language and the style adopted are smooth flowing, making it comfortable to read. The suspense created is so gripping that I finished reading it in one go! I am particularly impressed with the meticulous care displayed in presenting the details of the complex world of micro finance in India, its sleaze, its nexus with the political economy of the State and the way the official system works. Though it is fiction, it is highly realistic and revealing. Congratulations for coming out with such an educative novel!" - E A S Sarma I.A.S (1965) Retired, Former Secretary, Ministry of Finance, Government of India (1999-00), New Delhi
· "Where Angels Prey is an engaging and touching story of the collision of altruism and aspiration. Its narration of how the Indian rural poor suffer from this collision, in the context of the spectacular growth and equally spectacular crisis of the Andhra Pradesh microfinance industry, shocks and moves. I found it a most enjoyable, but also most disturbing, read!" - Matthew Gamser, CEO, SME Finance Forum, International Finance Corporation, Washington DC, USA
· "Fantastic storyline, but startlingly realistic; written racily, yet in impeccable English. Interweaving fact and fiction, this novel is a creative and compelling read." - G R Swaminathan, Assistant Solicitor General of India
· "Where Angels Prey is art imitating life ... a great read the first and the second time around." - Jami Solli, Executive Director of the Global Alliance for Legal Aid (GALA), USA
· "Wow, what an amazing, engaging, honest, searing tale! I absolutely adored this book. I started to read it and I was hooked. I could not put it down until I reached the end. A completely believable and mind boggling eyeopener of a tale of greed, corruption and altruism and its effect on the desperately poor. Beautifully written, with not one word out of place, it gives a very clear and scary picture of what could and does go wrong in India today. An amazing book which will stay with me," - Renita D'Silva Author of 'Monsoon Memories', 'The Forgotten Daughter' and 'The Stolen Girl' (5* Review on Amazon.com)
· "The author has taken certain well-recognised features of India's microfinance industry. He has then blended it with such creative licence as a writer is entitled to, to weave a compelling narrative that leaves the reader guessing where fact ends and fiction begins" - D. Sampathkumar Editorial Consultant- The hindu Business Line
· "Money is trust encrypted; the story of how it can be used to destroy trust in the name of the poor is vividly portrayed in this highly entertaining book…the title says it all." - Al Fernandez, Chairman NABFINS Ltd and Padmashree Awardee 2000
· "Where Angels Prey is really an excellent read! Written with flair, verve and a superb eye for detail—which is not surprising as Arunachalam is India's leading microfinance analyst—this gripping novel is a trip into the darker side of the poverty industry as it rampages and careens through the lives of the poor under cover of actually helping them. I look forward to the film in due course—it will be India's very own 'Wall Street'!" - Milford J. B. Bateman PhD, Freelance consultant on local economic development, Visiting Professor of Economics, Juraj Dobrila at Pula University, Croatia and Adjunct Professor of Development Studies, St Marys University, Halifax, Canada
· "No one doubted the power of microfinance in pulling millions out of poverty. But, a spate of suicides by the borrowers in 2010 raised more questions than answers. For an inside story of what happened and why, you don't need to go farther than this brilliant yet entertaining novel, which is so hard to put down. Ramesh's idea to write the microfinance story as fiction is ingenious. The intrigue behind the rise and fall of the sector could be brought out no holds barred. It's a must read." - S Sivakumar, Architect, ITC e-Choupal
· "During the very spectacular implosion of microfinance in Andhra Pradesh in 2010, Ramesh Arunachalam combined field trips, secondary research and his experience in the rural development space, to strip bare the malaise in the sector. It is excellent that he has now parsed all that knowhow into this racy entertaining novel." - M Rajshekhar, Senior Journalist, Scroll.in and former Senior Assistant Editor (Rural India, Environment), The Economic Times
· "Where Angels Prey - What a wonderful read! I loved the book and most especially the philosophical puzzle of how it ends. This rip-roaring piece of fiction races the reader through the halls of the Mumbai and New York Stock exchanges and into the villages of Andhra Pradesh. Where Angels Prey exposes the worst of what can happen when commercial interests and desperation collide: a train wreck tragic in every way. At the heart of the story, as two journalists work unstoppably to interpret a rain of motives, they uncover why and how the angels prey." - Kim Wilson, Faculty, The Fletcher School, Tufts University
About The Author:
Ramesh S. Arunachalam wears many hats. He is an Author, Film Maker, Columnist, Entrepreneur and Economic Development Practitioner. An Engineer with an MBA degree, he has 25 + years of experience across 25 countries in 5 continents through 240 assignments in the financial sector including microfinance and financial inclusion. He has worked with a wide range of stakeholders such as multi-laterals, bi-laterals, governments, private sector, NGOs and others. He has also worked at grass-roots in India in over 546 districts out of 600 odd districts. His blog on microfinance has been well received and he has also penned two books - The Journey of Indian Microfinance and An Idea Which Went Wrong: Commercial Microfinance in India – both of which, have received critical acclaim. Arunachalam has also showcased three films including the National and International Award Winning Kutty in 2001 (on domestic child labour) with his film company, Shruthikkaa Films. His latest film, Yeh Hai Bakrapur, a socio political satire (espousing communal harmony), had a successful global premiere in 2014.
Learn more about Arunachalam at www.whereangelsprey.com and connect on Facebook and Twitter. He can be contacted at +919840150731, e mail: rameshsa2009@gmail.com; r_arunachalam@hotmail.com and Skype: ramesh.s.arunachalam
Where Angels Prey is now available worldwide through Amazon (worldwide), Amazon India, Flipkart, iBooks, Kobo, Nook, www.whereangelsprey.com, NetGalley, BarnesandNoble.com, AuthorsUpFront and wherever books are sold.
REVIEW COPIES AVAILABLE UPON REQUEST ###
ADVANCE PRAISE[2] FOR WHERE ANGELS PREY
People from many walks of life have given their feedback with regard to the book and these are summarized below:
· "This novel is a brilliant piece of work from a person who has seen at close quarters the microfinance industry's rise and fall in Andhra Pradesh. The plot, fit for a movie, is beautifully woven into all the happenings that have plagued the sector. It makes for such a compelling read that it can't be put down even once!" - Madhusudhan Lagisetty, Assistant Vice President, Tata AIG Life Insurance Co Ltd
· "Really enjoyed the novel Where Angels Prey.... Its unique plot and fast pace make it a very entertaining and smooth read." - Prof M S Sriram, formerly Professor at IIM (Ahmedabad) and currently visiting Professor at IIM (Bangalore)
· "Where Angels Prey is wonderfully written and captivating. I thought I'd read a chapter, but the narrative was so gripping I went through the whole book at one stretch." - V Ramamurthy, I.A.S. (Retd), 1959 Batch
· "Where Angels Prey pulls and absorbs you into its plot and holds you there from start to finish." - Joy Deshmukh-Ranadive, Global Head, Corporate Social Responsibility, Tata Consultancy Services
· "A Brilliant Read—Where Angels Prey blurs the line between fiction and truth. From a man who understands money as well as anyone I know, this book paints the two worlds that wrestle in India in the 21st century. Descriptive, taut, with well-etched-out characters, and most importantly entertaining. This book is crying out to be made into a film!" - Anshuman Jha, Actor
· "Riveting…. Congratulations to Ramesh for having successfully converted his long-standing experience with the microfinance sector into a gripping narrative that will have readers asking for much more." - Moutushi Sengupta, Director–India, MacArthur Foundation
· "From rural Andhra Pradesh to the shiny lobbies of Wall Street, this financial thriller is a must read for everybody. This book boasts of Arunachalam's sheer brilliance as a writer and as a financial expert. Smooth, fast and nail-biting! I wonder when the movie is going to be out!" - Anand Bhaskar, Musician
[1]The endorsements expressed are strictly opinions of the individuals concerned. They are not the views of the organizations/institutions that these individuals represent and/or positions that these individuals hold.
[2] The endorsements expressed are strictly opinions of the individuals concerned. They are not the views of the organizations/institutions that these individuals represent and/or positions that these individuals hold.
