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Microfinance is considered to be the panacea for eradicating poverty from third-world society and this claim by non-government organizations (NGOs) is not unfounded. Evidence from Bangladesh reveals a partial success with respect to this viewpoint. Bangladesh is a poverty-ridden country; however, poor people in rural Bangladesh have shown significant material gains with regard to their lifestyles and it is no longer the case that they only have the bare minimum of food. Despite this significant improvement, it is still confusing as to whether these people have managed to cross the poverty line or not. Data show that poor people never stop borrowing money from the NGOs. The cycle of taking and retaking has made them dependent rather than independent agents in their society. With this viewpoint under consideration, this article seeks to explain the chronological sequence of events involved in taking credit. The ontological position of this study is interpretative in nature and such a position has allowed us to employ both observation and case studies as methodological tools for analysing our area of interest. Finally, this article argues that in order to understand the role of microfinance in Bangladeshi society, rethinking is required.