ZENITH International Journal of Multidisciplinary Research
Year : 2019, Volume : 9, Issue : 3
First page : ( 304) Last page : ( 311)
Online ISSN : 2231-5780.

Microfinance-A tool of building social relationships

Dr. Agrawal Shruti

NET, Ph. D, Faculty of Commerce, BHU, Varanasi, U.P, India. E-mail Id: ss.agrawal2011@gmail.com

Online published on 2 April, 2019.

Abstract

Microfinance is a financial service that is provided to empower the weaker sections of the society both financially and economically. This financial service is offered by the Microfinance Institutions that act as a link to the unemployed people of the society from where they are able to generate livelihood for them. Microfinance provides loans in the form of Joint liability group (JLG) where the beneficiaries take loan in groups so as to start a business. The present paper aims at investigating the role of microfinance as a tool of building social relationships. The research paper is empirical in nature and the study is based on primary and secondary data. The study finds that after joining the MFIs, the beneficiaries were able to create healthy and social relationships. The research paper concludes that microfinance has put in efforts to build the social relationships of the beneficiaries by making them socially responsible.

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Keywords

Microfinance, MFIs, finance, social relationship.

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