INTEREST FREE MICROFINANCE: A GATEWAY OF FINANCIAL INCLUSION FOR KERALA
Journal: INTERNATIONAL JOURNAL OF RESEARCH -GRANTHAALAYAH (Vol.4, No. 4)Publication Date: 2016-04-29
Authors : Muhammed Fazal K;
Page : 51-58
Keywords : Financial Inclusion; Microfinance; Poverty; Loans & Deposits.;
Abstract
Microfinance is a powerful poverty alleviation tool. It implies provision of financial services to poor and low-income people whose low economic standing excludes them from formal financial systems. Access to services such as, credit, venture capital, savings, insurance, remittance is provided on a micro-scale enabling participation of those with severely limited financial means. The provision of financial services to the poor helps to increase household income and economic security, build assets and reduce vulnerability; creates demand for other goods and services; and stimulates local economies. A large number of studies on poverty however, indicate that exclusion of the poor from the financial system is a major factor contributing to their inability to participate in the development process. In a typical developing economy the formal financial system serves no more than twenty to thirty percent of the population. The vast majority of those who are excluded are poor.
Other Latest Articles
- A STUDY ON FINANCIAL INCLUSION OF URBAN STREET VENDORSIN PALAYAMKOTTAI
- MEDIA AND WOMEN HEALTH IN INDIA
- FINANCIAL PERFORMANCE OF KANYAKUMARI DISTRICT COOPERATIVE MILK PRODUCERS UNION (KDCMPU)
- A STUDY ON CONSUMER BEHAVIOUR TOWARDS POTHYS TEXTILE IN TIRUNELVELI DISTRICT
- A STUDY ON INVESTMENT IN GOLD AMONG WORKING PEOPLE IN PALAYAMKOTTAI
Last modified: 2017-09-18 16:28:47