RELEVANCE OF MICROFINANCING IN INDIA: AN OVERVIEW

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RELEVANCE OF MICROFINANCING IN INDIA: AN OVERVIEW
EXCEL International Journal of Multidisciplinary Management Studies ________________ ISSN 2249- 8834
EIJMMS, Vol.4 (10), OCTOBER (2014), pp.85-94
Online available at zenithresearch.org.in
RELEVANCE OF MICROFINANCING IN INDIA: AN OVERVIEW
DR. RAJESH KUMAR JHAMB
LECTURER,
GOVT. POLYTECHNIC FOR WOMEN, SECTOR 10-D, CHANDIGARH.
ABSTRACT
Micro financing has emerged as a significant and well recognized buzzword in the today’s
financing environment. The basic objectives of micro finance are developing the financial
forecasting and continuous saving practices among the large numbers of people in India
especially in the rural areas. There is growth potentials for the growth of micro financing in India
due to more than two third population of India belongs to rural area and whereas only one third
population has bank deposits. The newly elected NDA govt. come with an innovative idea of
connecting people especially from rural and remote areas with banking industry by launching
PRADHAN MANTRI JAN DHAN YOJANA. the vision of govt. is economic liberalization
and opportunities of development and growth of India with the help of micro financing. The
challenge, there for is to link the large number of people with the banking industry in India by
way of cost effectiveness, sustainability and growth at a micro level.
KEY WORDS: Microfinance, Sustainable Development, Banking.
REFERENCES:

Adams, Dale W., Douglas H. Graham & J. D. Von Pischke (eds.). Undermining Rural
Development with Cheap Credit. Westview Press, Boulder & London, 1984.

Chavan, P and Ram Kumar, R. 2002 Micro-credit and rural poverty : An analysis of
empirical evidence. EPW xxxy11 (10): 955-965.

Chriseten, R.Peck Rhyne, Elisabeth and Vogel, Robert C (1994) “Maximizing the
Outreach of Microenterprise Finance: The Emerging Lessons of Successful Programs,”
September IMCC, Arlington, Virginia.

Churchill, C.F. (1996),” An Introduction to Key Issues in Microfinance: Supervision and
Regulation, Financing Sources, Expansion of Microfinance Institutions,” Microfinance
Network, Washington, D.C. February.

Fisher T. and Sriram M.S. 2002. Beyond Micro Credit putting development book into
MF Journal of Rural Development 21 (2): 232-250.

Marguerite S. Robinson, The Microfinance Revolution: Sustainable Finance for the poor.

Otero, M. and Rhyne, E.(1994) “The New World of Microenterprise Finance -Building
Healthy Financial Institutions for the Poor”, Kumarian Press, West Harford, Connecticut.
EXCEL International Journal of Multidisciplinary Management Studies ________________ ISSN 2249- 8834
EIJMMS, Vol.4 (10), OCTOBER (2014), pp.85-94
Online available at zenithresearch.org.in

Pu hazendi V., Sahjashi K.J.S. (2001) Economics social empowerment of rural people
through self-help groups, Indian Journal of Agricultural economics, July – Sept.

Khandekar, (2001). Indian Journal of Agricultural Economics, pp. 374.

NABARD Annual Report, 2005-06.
WEB SITES
CGAP Microfinance Gateway
http://www.microfinancegateway.org/p/site/m/template.rc/1.26.9183/#1
Guy Vincent, Sustainable Microentrepreneurship:The Roles of Microfinance, Entrepreneurship
and Sustainability in Reducing Poverty in Developing Countries
Microfinance www.wikipedia.org
SIDBI :Small Industries Development Bank of India www.sidbi.com
History of Microfinance : www.globalenvision.com
Financial Sector of
www.worldbank.org
the
World
Bank
Group,
“Rural
and
Microfinance
SMEs”,
2009 World Survey on the Role of Women in Development Women’s Control over Economic
Resources and Access to Financial Resources, including Microfinance
www.un.org

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