Microfinance
IRACST - International Journal of Computer Science and Information Technology & Security (IJCSITS), ISSN: 2249-9555
Vol. 2, No.4, August 2012
Performance of Microfinance Institutions in
India
M. Radhakrishna
Adhoc faculty School of Management, NIT Warangal
Abstract: Microfinance can be described as an umbrella under which financial services including micro credit are provided to the low income group. The need for the unfolding of microfinance began in the developing nations more than thirty years ago. Microfinance refers to small scale financial services for both credits and deposits that are provided to people, who farm, operate small or micro enterprise where goods are produced, recycled, repaired, or traded. Microfinance playing an important role in developing the rural areas by providing loans to people at lower interest. The present research paper describes the role of Microfinance institutions in developing the conditions of people who are living in rural areas.
Key words: Microfinance, Rural, Interest and loan.
INTRODUCTION
Microfinance can be described as an umbrella under which financial services including micro credit are provided to the low income group. The need for the unfolding of microfinance began in the developing nations more than thirty years ago. Microfinance refers to small scale financial services for both credits and deposits that are provided to people, who farm, operate small or micro enterprise where goods are produced, recycled, repaired, or traded.
The aim was to provide resources to help the poor to attend self sufficiency. They had
neither resourced nor employment opportunities to be financially independent, let alone meet the minimal consumptions needs. Microfinance revolution in India as a powerful tool for poverty alleviation and women empowerment. Where institutional finance failed microfinance delivered, but the outreach is too small.
Overview of microfinance in India
The
Vol. 2, No.4, August 2012
Performance of Microfinance Institutions in
India
M. Radhakrishna
Adhoc faculty School of Management, NIT Warangal
Abstract: Microfinance can be described as an umbrella under which financial services including micro credit are provided to the low income group. The need for the unfolding of microfinance began in the developing nations more than thirty years ago. Microfinance refers to small scale financial services for both credits and deposits that are provided to people, who farm, operate small or micro enterprise where goods are produced, recycled, repaired, or traded. Microfinance playing an important role in developing the rural areas by providing loans to people at lower interest. The present research paper describes the role of Microfinance institutions in developing the conditions of people who are living in rural areas.
Key words: Microfinance, Rural, Interest and loan.
INTRODUCTION
Microfinance can be described as an umbrella under which financial services including micro credit are provided to the low income group. The need for the unfolding of microfinance began in the developing nations more than thirty years ago. Microfinance refers to small scale financial services for both credits and deposits that are provided to people, who farm, operate small or micro enterprise where goods are produced, recycled, repaired, or traded.
The aim was to provide resources to help the poor to attend self sufficiency. They had
neither resourced nor employment opportunities to be financially independent, let alone meet the minimal consumptions needs. Microfinance revolution in India as a powerful tool for poverty alleviation and women empowerment. Where institutional finance failed microfinance delivered, but the outreach is too small.
Overview of microfinance in India
The
References: of Strategic Issues (2001). 4. Kamal Vatta _ Microfinance and Poverty Alleviation (2003)