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International Journal of Applied Research
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ISSN Print: 2394-7500, ISSN Online: 2394-5869, CODEN: IJARPF

IMPACT FACTOR (RJIF): 8.4

Vol. 3, Issue 8, Part L (2017)

Role of microfinance institutions in rural development in India

Role of microfinance institutions in rural development in India

Author(s)
Dr. Bibi Ishrat Jahan
Abstract
Micro-finance is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers and insurance to the poor and low income households and their microenterprises. Microfinance provides micro credit to people residing below the poverty line and who are deprived of formal financial. Microfinance covers a broad range of financial services including loans, deposits and payment services and insurance to the poor and low-income households and their micro enterprises. Microfinance institutions have shown a significant contribution towards the poor in rural, semi urban or urban areas for enabling them to raise their income level and living standards in various countries It is a supplement which makes these people involved in their small businesses. Microfinance focuses on providing microcredit in standardised manner. Microfinance has various schemes which play crucial role in enhancing women’s role in decision-making. This paper is an attempt to diagnose the role of microfinance in the development of the rural area through its policies. It aims to find out impact and importance of rural development in India. It is observed from the study that microfinance brings effective changes in the society with the policies and practices. Its main aim is to cater the needs of poor people and guide, motivates them to increase their economic and social status.
Pages: 969-974  |  244 Views  61 Downloads
How to cite this article:
Dr. Bibi Ishrat Jahan. Role of microfinance institutions in rural development in India. Int J Appl Res 2017;3(8):969-974.
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