International Journal in Management & Social Science
Year : 2015, Volume : 3, Issue : 6
First page : ( 314) Last page : ( 325)
Online ISSN : 2321-1784.

Microfinance-the way of Financial Inclusion

Dr. Barot Himanshu¹, Barot Jignesh²

¹Associate Professor, Unitedworld School of Business, Ahmedabad, Gujarat

²Assistant Professor, Department of Economics, S P University, VV Nagar, Gujarat

Online published on 22 June, 2018.

Abstract

Globally there are over 2.5 billion people who are excluded or underserved by financial systems. These are often poor or underserved populations who lead complex financial lives and typically rely on mix of informal and formal financial services with neither fully meeting their diverse financial needs. To provide hassle free and affordable financial products in rural segment is a primary issue for the banking system. This gap is bridged by the microfinance with providing broad range of the financial services to poor and low-income households as significant potential contributor in the government's agenda of ‘Financial Inclusion’. The present paper deals with how microfinance helps to the nation to alleviate the poverty or contributing for economic progress.

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Keywords

Financial Inclusion, Microfinance, Poverty, Self Help Group.

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