A Study of Progressive Model of Micro-Finance in India

Abstract

Microfinance is describe as associate unit brolly under that money services as well as small credit measure provided to the weaker and low financial group. As we know Poverty alleviation is one of the primary goals of developing economy like India.The suppression of poverty and achieving the sustainable development are the two most important challenges facing by India and also the world in this century. On the basis of this, the role and significance of micro-finance inIndia cannot be denied. India is the home of 1/3 of the world�s poor and equally large number of people does not have an access to remittance and formal banking facilities. In India about 85 percent of the poorest household do not have access to credit. The basic idea of microfinance is to provide credit to the disadvantaged groups and poor people who would not have access to credit services.This paper tries todiscussconcrete framework of a microfinance institution in India and how Micro-financing is regarded as a tool for socio-economic up-lift in India. This paper also explainsthe role and significance of the microfinance and its models in current economic scenario of India.