Growth and Performance of Entrepreneurship in India through Micro Financing
Abstract
“Microfinance refers to the provision of financial services to low-income clients, including consumers and the self- employed. Microfinance serves as a means to enwower the poor, and provides a valuable tool to assist the economic development process. Microfinance was slow in coming to India. An unfavourable policy environment, low levels of grants to microfinance institutions, traditional banking infrastructure and a need for context specific solutions has constrained its rapid scale up. Micro credit allows poor people to increase their income by starting new enterprises,
improves child health, promotes gender equality and ensures economic sustainability, etc. This paper reviews the performance of self-help group Bank Linkage Program and examines some of the key microfinance approaches in India. The paper offers some recommendations on what it would take to reform these institutions with an eye to improve access for the poor.”
Authors