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Experiences of Micro Finance Institutions in India: Challenges and Opportunities

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Title Experiences of Micro Finance Institutions in India: Challenges and Opportunities
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Creator Dipika Hajong
B. L. Manjunatha
Itigi Prabhakar
 
Subject Micro finance
Challenges
Opportunities
 
Description Not Available
Micro-finance, operating through Micro Finance Institutions (MFls), refers
to the provision of financial services to its low-income clients, including the self-
employed. Activities of MFls usually involve: providing small loans, typically for
working capital; informal appraisal of borrowers and investments; collateral
substitutes, such as group guarantees or compulsory saving; access to repeat
streamlining loan disbursement and monitoring; and secure savings. Although
Some MFls provide enterprise development services, such as skills training and
marketing: and social services such as literacy training and health care are not
generally included in the definition of micro-finance. It has been estimated that
there are 500 million economically active poor people in the world operating small
and micro-enterprises. Most of them, do not have access to adequate financial
services. Research studies in India Suggest that through the right support from
the institutional as well as non-institutional associations, micro-entrepreneurs ca।।
strengthen their own capacities besides contributing to both family and national
earnings. Micro-enterprise development, in conjunction with appropriate micro-
finance support can contribute to the attainment of some major economic and
social development objectives such as poverty reduction, empowerment of women,
employment generation, etc. At the same time, many MFls in the country are facing
challenges of mismanagement, high transaction costs, forceful recovery of loans,
etc. In this context, this paper discusses the origin and growth of MFls in
India, their performance and the challenges they face in the present context.
Not Available
 
Date 2019-04-22T12:33:54Z
2019-04-22T12:33:54Z
2011-11-01
 
Type Presentation
 
Identifier Not Available
Not Available
http://krishi.icar.gov.in/jspui/handle/123456789/18765
 
Language English
 
Relation Not Available;
 
Publisher Not Available