Define Economic

May 20th, 2015
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Economics is thus a social science, which studies human behaviour in relation to optimizing allocation of available resources to achieve the given goals. ECONOMICS: Economics is a social science . Its basic function is to study how people – individual house holds, firms and nations maximizing their gains from their limited resources and opportunities.

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MicrofinanceMicrofinanceABC Workshop18th Sep 2009Why Microfinance Exist?AccessibilityCost of transactionDealing with bottom of pyramidCredit worthiness of borrowersFailure of formal financial institutionto reach and cater this segmentRBI mandates Lending to Priority Sector (40% of AdjustedNet Bank Credit) 18% to agricultural sector Indirect lending not more than 4.5% 10% to weaker section Banks falling short of target shall allocateamount to RIDF at lower int. rate.(<2%:@BR;2 5%: BR-1%, 5-9%: BR 2%, >9%: BR 3%)Do people need MFI???Presence of Money lendersIs credit only the need?How a MFI functions?Catering poorest of the poor, poor,not poor not well off, BPL, APLFive fatal assumption aboutmicro-credit1. Assumption that the poorest all wish to be self-employed2. Assumption that credit is the main financial serviceneeded by the poor3. Assumption that credit can automatically translate intosuccessful micro-enterprises4. Assumption that those slightly above the poverty line donot need microcredit, and giving it to them amounts tomis-targeting5. Assumption that microcredit institutions can all becomefinancially self-sustainingNSSO data 27% of household have access to formalfinancial services 22% of household dont have access toformal financial institution but are cateredby informal sector (money lenders) Rest 51% dont have any access of financial

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