BANG OF MICROFINANCE ON RURAL DEVELOPMENT IN INDIA

ABSTRACT

Microfinance is used to supply small credits to very poor section of society that is unable to access the traditional economical financial institutions such as banks. It helps them in acquiring finance to expand their tiny businesses and other financial needs. Microfinance also helps in improving contribution of women in economic activities by providing economical resources to invest. This research paper is an effort to bring light the role of microfinance in rural development through the study of micro financial schemes. We can learn lessons from microfinance for developments in terms of what can be the strategy that we can adapt to make a difference. We can conclude that weak sector of Indian economy is in dire need of money lending methods to earn credits so microfinance programs should be an important area of focus to provide these people the chance to improve their standard of living via means of economical growth.

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