International Journal of Academic Research and Development

International Journal of Academic Research and Development


International Journal of Academic Research and Development
International Journal of Academic Research and Development
Vol. 3, Issue 1 (2018)

Present Scenario of Microfinance in India


Sonia Goyal

From the very last few decades poor people and socially marginalized people have less access to the high quality financial products and services. It does not include only banking services. The very important step to bring economically exiled people within the crease of financial sector was the development of microfinance in India. This is in early 1980’s had been evolved with an effort of forming informal Small Help Group (SHG). The main purpose of SHG is to provide easy access of all kind of financial services to needy. The term microfinance mainly refers to both credit and savings, small scale financial services that are extended to poor in all kind of areas. The SHG-MFIs and bank linkage is an effective way for needy people to use financial services with ease. This paper tries to highlights the position of micro finance in India.
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How to cite this article:
Sonia Goyal. Present Scenario of Microfinance in India. International Journal of Academic Research and Development, Volume 3, Issue 1, 2018, Pages 777-778
International Journal of Academic Research and Development International Journal of Academic Research and Development