Micro Finance

Jun 21st, 2015
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Microfinance is a type of banking service that is provided to unemployed or low-income individuals or groups who would otherwise have no other means of gaining financial services. Ultimately, the goal of microfinance is to give low income people an opportunity to become self-sufficient by providing a means of saving money, borrowing money and insurance.

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Micro FinanceMicrofinance is a type of banking service that is provided to unemployed or low-income individuals or groups who would otherwise have no other means of gaining financial services. Ultimately, the goal of microfinance is to give low income people an opportunity to become self-sufficient by providing a means of saving money, borrowing money and insurance.FEATURES OF MICROFINANCEIt is an essential part of rural finance.It deals in small loans.It basically caters to the poor households. It is one of the most effective and warranted Poverty Alleviation Strategies.It supports women participation in electronic activity.It provides an incentive to grab the self employment opportunities.It is more service-oriented and less profit oriented.It is meant to assist small entrepreneur and producers.Poor borrowers are rarely defaulters in repayment of loans as they are simple and Godfearing.India need to establish several Microfinance Institutions."Microfinance:Credit Lending Models" is an attempt to document the various models currently being used by microfinance institutions throughout the world. A total of 14 models are described below. They include, associations, bank guarantees, community banking, cooperatives, credit unions, grameen, group, individual, intermediaries, NGOs, peer pressure, ROSCAs, small business, and village banking models. In reality, the models are losely related with each other, and most good and sustainable microfinance instititions hav

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