A Study On Issues and Challenges Related to Micro Finance Institutions In India

Dr. B. V. SUDHA

A Study On Issues and Challenges Related to Micro Finance Institutions In India

Authors: Dr. B. V. SUDHA

Unique Paper ID: 167540
Volume: 4
Issue: 3
PageNo: 301-305

Keywords: No Keywords Found

Abstract:
Microfinance has evolved as an economic development approach intended to benefit the low-income part of a given society. It is emerging as a powerful tool for poverty alleviation in India. Microfinance Institutions can be non-governmental organizations, self-help groups, saving and loan cooperatives, credit unions, government banks, commercial banks, or nonbank financial institutions. Microfinance gives access to financial and nonfinancial services to low-income people, who wish to access finance for starting or developing an income generation activity. Micro finance institutions are established to provide financial services to the microentrepreneurs and some poorer to improved their economic status and social conditions after receiving the financial services. The purpose of this paper is to study the role of microfinance institutions in poverty eradication in India and to observe the issues and challenges facing microfinance institutions. Impact of micro finance is appreciable in bringing skill development and empowerment among the disadvantaged segments in the society. Micro finance has emerged as a catalyst of rural development, social and economic empowerment.

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Cite This Article

ISSN: 2349-6002
Volume: 4
Issue: 3
PageNo: 301-305

A Study On Issues and Challenges Related to Micro Finance Institutions In India

Available:https://ijirt.org/Article?manuscript=167540

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Impact Factor
8.01 (Year 2024)

UGC Approved
Journal no 47859

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