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About Microfinance

To most, microfinance means providing poor families with very small loans (microcredit) to help them engage in productive activities to grow their tiny businesses.

Over a period of time, microfinance has come to include a broader range of services (credit, savings, insurance and others) as it has been realised that the poor, who lack access to traditional formal financial institutions require a variety of financial products.

Microfinance started with the recognition that poor people had the capability to lift themselves out of poverty if they had access to affordable loans. High repayment rates in the industry have changed the perception that the poor are not credit worthy. With the right opportunities, the poor have proved themselves to be productive and capable of borrowing, saving and repaying, even without collateral. Find out more about microfinance in this section.

Understanding Microfinance

Microfinance sector has been growing at a fair steady pace. Read through this section to have an overview about microfinance and to know some facts and the Key Principles of Microfinance according to CGAP ( Consultative Group to Assist the Poor).

Indian Perspective

Microfinance in India started to evolve in the early 1980's with an effort of provide financial services to the needy people who are deprived of credit services due to various reasons. Find out more on the Microfinance sector in India in this section.