Microfinance and Poverty Alleviation
Author(s):
Dr.Jagadeesh.B
Keywords:
Microfinance, Poverty Alleviation, empowerment.
Abstract
Access to finance, especially by the poor and vulnerable groups is a prerequisite for employment, economic growth, poverty reduction and social cohesion. Further, access to finance will empower the vulnerable groups by giving them an opportunity to have a bank account, to save and invest, to insure their homes or to partake of credit, thereby facilitating them to break the chain of poverty (Committee on Financial Inclusion, 2008). The stark reality is that most poor people in the world still lack access to sustainable financial services, whether it is savings, credit or insurance (United Nation, 2006). Building an inclusive financial system, thus, has gained growing global recognition bringing to the fore the need for development strategies that touch all lives, instead of a select few. One would find that the popularization of microfinance has given feminist scholars an opportunity to put gender back in focus in the discussions on development planning. Microfinance SHG has become a ladder for the poor to bring them up not only economically but also socially, mentally and attitudinally in India. In the above context, the present papers analyze the economic gains derived by the members after joining the SHGs and discuss the important problems of the microfinance experiments in the study area.
Article Details
Unique Paper ID: 149958

Publication Volume & Issue: Volume 7, Issue 2

Page(s): 84 - 88
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Volume 7 Issue 1

Last Date 25 June 2020


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