ISSN: (Online) 2321 -4155
ISSN: (Print) 2320 -7000

JOURNAL OF INDIAN RESEARCH (ISSN No. : 2320-7000)
VOLUME : 1, ISSUE : 4,October-December, 2013
 
MICROFINANCING: A BIRD’S EYE VIEW
Ajay Aggarawal
 
ABSTRACT
This paper deals with Micro financing which is a general term to describe financial services to low-income individuals or to those who do not have access to typical banking services. Microfinance is also the idea that low-income individuals are capable of lifting themselves out of poverty if given access to financial services. Micro financing helps in achieving sustainable development. In order to attain sustainable rural development and progressive poverty alleviation, the role of Micro financing agencies becomes very important in the context of current scenario. Microfinance has grown rapidly both in terms of outreach and also in the terms of number of service providers. Though, there are enough constrains in its way to become all-encompassing solution to mitigate the problem of credit for the financially disempowered groups.
 
KEYWORD
Institutional capacity building (ICB), Microfinance organizations (MFO), Microcredit , MicroFinance Institutions (MFIs), MoRD, NGO , Non-Banking Financial Companies(NBFC),Self-Help Group (SHG) , Swarna Jayanti Grama Swarojgar Yojana SGSY.
 
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