Role of microfinance in poverty alleviation in India
نویسندگان
چکیده
Low-income individuals, such as those living in rural poverty, low-income customers, and small business owners with little capital for operations, can receive financial assistance via microfinance. In this system, microfinance offers support to people who find it difficult aid, enabling them expand their businesses. Numerous services are offered by them, including loans, deposits, savings accounts, money transfers, insurance, etc. The number of SHGs was found100.14, 102.43, 112.23, 118.93 lakhs during 2018-19, 2019-20, 2020-21, 2021-22, respectively. Number loan outstanding varied from 46.73 67.40 lakh 2015-16 2021-22 India other developing nations, micro-finance is widely recognized a tool reducing poverty. Small businesses like banks, NBFCs, Section 25 firms, various cooperatives, NGOs, MFIs all targeting markets, making today potentially dynamic market many players selling goods the poor people. Microfinance specific type financing intended assist need segment society impoverished areas desire stand on own feet. By using single-factor ANOVA, we see sector-specific distribution bank loans given last seven years. This essay tries understand significance poverty India, well its primary models difficulties.
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ژورنال
عنوان ژورنال: International journal of financial management and economics
سال: 2023
ISSN: ['2617-9210', '2617-9229']
DOI: https://doi.org/10.33545/26179210.2023.v6.i1.200