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ROLE OF MICROFINANCE IN INCLUSIVE GROWTH
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Author(s):
VIKAS KARUNA
Vol - 6, Issue- 7 ,
Page(s) : 18 - 21
(2015 )
DOI : https://doi.org/10.32804/IRJMST
Abstract
Access to finance by the poor and vulnerable groups is a prerequisite for poverty reduction and social cohesion. This has to become an integral part of our efforts to promote inclusive growth. In fact, providing access to finance is a form of empowerment of the vulnerable groups, Financial intermediation is the lubricant that oils the wheels of economic activity in performing inclusive growth, for a financial system to be truly inclusive, it should meet the needs of everyone who can fruitfully use financial service, including the poor for the development countries like India, microfinance has come as a breakthrough in the philosophy and practices of poverty eradication, economic empowerment and inclusive growth, Yet given the enormity of economic compulsions and complexities in development countries, microfinance is an unfinished agenda. However over the last several years, the Indian microfinance industry has undergone considerable evolution.
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