Volume : VII, Issue : IX, September - 2017

Micro Finance in India: Contemporary Issues and Challenges

V. Vijaya Lakshmi, T . Malathi Latha

Abstract :

 The term Micro Finance sometimes is used interchangeably with the term micro credit. Micro finance refers to Small savings, Credit and Insurance services extended to socially and economically disadvantaged segments of society. It is emerging as a powerful tool for poverty alleviation in India.  The rapidly opening economy is widening the gap between the rich and poor. To have a sustainable life style along with saving and investment, micro finance allows the poor to get the loan that leads to financial independence and growth. Micro Finance is becoming a significant buzzword in India. Remarkable progress has been made during the last two decades in innovating techniques to deliver financial services to the poor on a sustainable basis. Economic growth, sustainable development and poverty alleviation can be achieved effectively with the help of an instrument like “Micro Finance”. The potential for growing micro finance institutions in India is very high. There are several key issues in Micro finance in India which I would like to cover through this paper. The study explores some suggestions to make micro finance more effective. This paper will focus the challenges and suggestive measures for growth of Micro Finance in India for a sustainable development.

Keywords :

Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

V.Vijaya Lakshmi, T .Malathi Latha, Micro Finance in India: Contemporary Issues and Challenges, INDIAN JOURNAL OF APPLIED RESEARCH : Volume-7 | Issue-9 | September-2017

Number of Downloads : 257

References :