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Microfinance and Poverty Reduction in India (A Comparative Study with Asian Countries)
Apr 2009, Shastri, R.
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Examining the impact of microfinance in alleviating poverty

This paper examines Indian microfinance and its role in poverty reduction. It also makes recommendations to improve microfinance operations and outreach.

Microfinance has been found to be effective in lifting the poor in India above poverty level by providing them increased self-employment opportunities and making them credit worthy. Although poverty reduction has long been high priority for the Government of India, microfinance is still an experimental tool in its overall strategy. India’s microfinance experiments are different from the more substantial MFIs and programs of its neighboring countries.

Substantial progress can be made in taking Indian MFIs to the next level of significance and sustainability. The paper highlights the following findings and recommendations:

MFIs need to design financially sustainable models, increase outreach and scale up operations for the poor in India;
NGOs need to communicate with people in villages and make them aware of banking policies and the credit system;
Banks should build social banking systems for the poor;
Government of India and state governments should support capacity building initiatives and ensure transparency and credibility through disclosures.

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01 Sep 2010




brian knight Uganda

17 Aug 2009



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Journal Title:
African Journal of Business Management

Journal Volume/Pages:
3(4): 136-140

Publisher(s):
Academic Journals