Asian Journal of Research in Banking and Finance
Year : 2018, Volume : 8, Issue : 10
First page : ( 1) Last page : ( 9)
Online ISSN : 2249-7323.
Article DOI : 10.5958/2249-7323.2018.00057.3

Progress of Microfinance of India

Dr. Gulati Ravneet

Assistant Professor, GMN College, Ambala, India

Online published on 12 February, 2019.

Abstract

India is said to be the home of one third of the world's poor; official estimates range from 26 to 50 percent of the more than one billion population. About 87 percent of the poorest households do not have access to credit. The demand for microcredit has been estimated at up to $30 billion; the supply is less than $2.2 billion combined by all involved in the sector. Due to the sheer size of the population living in poverty, India is strategically significant in the global efforts to alleviate poverty and to achieve the Millennium Development Goal of halving the world's poverty by 2015. This paper attempts to present Microfinance as widely accepted as an effective poverty alleviation strategy. At last we analyze despite this growth, why the poverty situation in India continues to be challenging.

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Keywords

Microcredit, poverty, household.

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