MANAGEMENT OF MICROFINANCE INSTITUTIONS

Improvements in financial inclusion have been a priority for every Indian administration since India gained its independence in 1947. Seventy-five percent of India's poor live in rural regions, therefore in the 1950s, an effort was made to expand access to banking services for this population. The nationalization of commercial lenders in the late 1960s and a concerted effort to grow rural banking in the decades that followed were further actions taken to broaden people's access to financial services. India is an agro based economy since beginning and major contributor in national income of country and the majority of the sector comes from weaker section or from below poverty. To develop & rapid the growth of economy the government of India took major initiative after the independence & made the significant provision in various five year planning's of country to increase food grain & promote the cultivation operations & for the betterment of deprived section of India such as green revolution plan etc. after the independence but along with the promotion of field operation in rural areas and weaker section, the need of financial assistance & promotion was felt for the radical growth of rural areas, weaker section and boost up the agro economy