Authors : Sivasankari
Page Nos : 20-24
Description :
India is a country which has its majority of population residing in rural areas hence rural development becomes an important aspect on which limelight should be bought. Micro finance is to supply micro credit to people living in utter poverty and has no reach to the conservative and formal financial products. It is an aid to engage them in productive activities and grow their tiny businesses. It is regarded as a useful tool for socio-economic up-liftment in a developing country like India. Micro financial schemes plays vital role in increasing women’s participation in economic activities and decision making. This paper is an attempt to diagnose the role of microfinance in the development of the rural area through Micro financial schemes. It is observed from the study that microfinance brings effective changes in the society with the policies and practices. The aim is to examine the current scenario of outreach of micro-finance in said areas and whether it is helping in alleviating poverty. The data collection of the research would be based on primary and secondary data sources. It is concluded that developing countries, are in immense need of credits so microfinance programs must make available this credit needs and motivate the poor people to increase their standard of living.
