MICRO FINANCE DEVELOPMENTAL STRATEGIES TO REDUCING POVERTY NUXES: AN OVERVIEW
DOI:
https://doi.org/10.29121/granthaalayah.v4.i5.2016.2669Keywords:
Micro finance, Poverty, Strategies, India, Micro Finance ServicesAbstract [English]
Microcredit is a financial innovation which originated in developing countries where it has successfully enabled extremely impoverished people to engage in self-employment projects that allow them to generate income, begin to built wealth and exit from poverty. Microfinance is the extension of very small loans to the entrepreneurs and to others living in poverty that are not considered bankable. These peoples lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit. Microcredit is a tool for socioeconomic development. This paper describes different strategies such as demand service and supply side service to reducing the poverty nuxes in India and also tells challenging and achievement of using this strategies to reducing the poverty.
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