Financial Inclusion in India: The Role of Microfinance as a Tool
|
|
- Ernest McDaniel
- 5 years ago
- Views:
Transcription
1 Financial Inclusion in India: The Role of Microfinance as a Tool Jagadeesh B* Assistant Professor Department of Commerce Field Marshal K.M Cariappa College, Madikeri, Kodagu Abstract Microfinance has assumed immense importance throughout the world in view of its efficacy in credit dispensation, loan repayment and reduction of poverty. The experience world over has proved that hassle free and repetitive dose of credit is the basic need of the poor which has become the hallmark of microfinance. Several countries like Bangladesh, Indonesia, Philippines, Kenya and Bolivia have implemented microfinance programmes with encouraging results. In the Indian context, the microfinance sector has witnessed an unprecedented growth in the last few years, and has firmly established itself as significant potential contributor in the government s agenda of Financial Inclusion. Financial services for the poor have proved to be a powerful instrument for poverty reduction that enables the poor to build assets, increase incomes, and reduce their vulnerability to economic stress. Microfinance aims at providing broad range of financial services such as deposits, Loans, payment services, money transfers, insurance to poor and low-income households and their micro enterprises. The present research paper is an attempt to examine the role of micro finance in the empowerment of people and the realization of financial inclusion in India. KEYWORDS: Financial Inclusion, Micro finance, NGO, Self-Help Groups (SHGs) A sizable population of the world particularly the poor, underprivileged, disadvantaged and vulnerable group of people does not have access to most basic financial services. Financial Empowerment is the prime basic need to all. Financial Inclusion is delivery of financial services like Bank Accounts, Savings Products, Remittances & Payment services, Insurance, Financial advisory services, Entrepreneurial credit, Micro finance and Micro Credit to the weaker section in rural and urban areas, also not to ignore unemployed, Women, Old people, Physically challenged people etc at an affordable cost. 64
2 Government of India and Reserve Bank of India have taken series of measures and have experimented various alternatives to take financial services to the masses, but the task is so stupendous, hence the pace of work should be accelerated and sustained. Financial Inclusion is delivery of basic banking services at an affordable cost to the vast sections of disadvantaged and low income groups. It includes access to formal financial system such as financial institutions, markets and instruments, like savings, loans, remittances and insurance services, at affordable prices. Microfinance and Financial Inclusion Since formal credit institutions rarely lend to the poor, special institutional arrangements become necessary to extend credit to those who have no collateral to offer. Microfinance, by providing small loans and savings facilities to those who have been excluded from commercial financial services, has been promoted as a key strategy for reducing poverty in all its forms by agencies all over the world. Microcredit has been defined as programmes that provide credit for selfemployment and other financial and business services (including savings and technical assistance) to very poor persons (Micro Credit Summit, 1997). Nowadays, microfinance represents something more than microcredit - it also refers to savings, insurance, pawns and remittances, in sum to a much wider range of financial services (Tankha, 1999). In most cases, microcredit programmes offer a combination of services and resources to their clients in addition to usual credit for selfemployment. Also, this is an effort to provide a bridge between formal financial markets and the informal groups in the formal microfinance initiatives. The basic idea of microfinance is that poor people are ready and are willing to pull themselves out of poverty if given access to economic inputs. The need for informality in credit delivery and easy access is demonstrated by the fact that Self Help Groups (SHGs) and Microfinance Institutions (MFIs) constitute the fastest growing segment in recent years in reaching out to small borrowers. Microfinance is a new development in which Indian institutions have acquired considerable expertise and where upscaling holds great promise both to expand the nature of financial services offered to micro enterprises and to make these the springboard for entrepreneurial development. (Planning Commission, 2006) 65
3 The SHG movement is bringing about a profound transformation in rural areas of India. MFIs play a significant role in facilitating inclusion, as they are uniquely positioned in reaching out to the rural poor. Many of them operate in a limited geographical area, have a greater understanding of the issues specific to the rural poor, enjoy greater acceptability amongst the rural poor and have flexibility in operations providing a level of comfort to their clientele. It is roughly estimated that there are about 1,000 NGO-MFIs and more than 20 Company facilitating the activities in all over India. There are today over 22 lakh such groups linked with banks. The objective of the country is to enroll at least 50% of all rural women in India as members of SHGs over the next five years and link these SHGs to banks. Financial inclusion through Self-Help Group (SHG) and Bank Linkage Programme A revolutionary step in rural banking is the introduction of SHG-Bank Linkage programme (SBLP).The formal financial institutions like commercial banks and Regional Rural Banks play significant role in financial inclusion, but sparse presence of these institutions and shrinking share of micro credit to total credit disabused by banks showed the essence of programme like Self-Help Group and Bank Linkage. This fills the gap existing between formal financial networks and unbanked poor weaker sections which is the intention of financial inclusion. This links formal financial system (public and private sector commercial banks, Regional Rural Banks, Co operative banks) with the informal SHGs. SHG-Bank Linkage Programme was started with the intention of extending the outreach of formal banking to poor who mainly consist of women, small and marginal farmers, daily wage labourers, landless farmers, small businessmen, craftsmen etc. To begin with pilot project was launched by NABARD by linking 500 SHGs with banks in It has increased to 0.5 million in As on March 2012 total number of SHGs linked with banks were lakhs with balance of Rs 6550 crore with banks (Status of Micro finance in India ). Review of literature Ghosh (2005) traced the evolution of the Microfinance revolution in India as a powerful tool for poverty alleviation and women empowerment. Where institutional finance failed Microfinance delivered, but the outreach is too small. Rangarajan (2008) accessed that to finance by the poor and vulnerable groups is a prerequisite for poverty reduction and social cohesion. The objective of financial inclusion is to extend the scope of activities of the organized 66
4 financial system to include within its ambit people with low incomes. Through graduated credit, the attempt must be to lift the poor from one level to another so that they come out of poverty. Sharma (2009) studied the financial inclusion by channelizing existing recourses. His conclusions are that (i) use of technology in the banking system is the most feasible solution for achieving financial inclusion, and (ii) the implementation of technology should follow a top down approach. Objectives To explain the role and importance of financial inclusion in Indian Financial System. To analyze the different approaches of financial inclusion. Methodology Secondary sources of data are used. Data published by various institutions such as Government of India, World Bank, Consultative Group to Assist the Poor (CGAP), Reserve Bank of India (RBI), National Bank for Agriculture and Rural Development (NABARD, State Level Bankers Committee (SLBC), etc are used for the purpose of the present paper. I. Role and importance of financial inclusion in Indian Financial System. The concept of financial inclusion and its implementation has come a long way since the last two decades and the results are also quite fair. There have been much technological advances that have transformed the banking industry from traditional brick and-mortar infrastructure like staffed branches to a system supplemented by other channels like automated teller machines, debit and credit cards, internet banking, online money transfer etc. The moot point, however, is that access to such technology and services are restricted to only certain segments of the society. There is a growing divide, with an increased range of personal finance options for a segment of high and upper middle income population and a significantly large section of the population who lack access to even the most basic banking services. This is termed as Financial exclusion. Financial exclusion can be geographical exclusion, exclusion on the grounds of charges, exclusion due to ignorance & also self exclusion. The need for financial inclusion Despite witnessing substantial progress in financial sector reforms in India, it is disheartening to note that nearly half of the rural households even today do not have any access to any source of fundsinstitutional or otherwise. Hardly onefourth of the rural households are assisted by banks. Hence the major task before 67
5 banks is to bring most of those excluded, i.e. 75% of the rural households, under banking fold. But the task is not so easy since they are illiterate, poor and unorganized. They are also spread far and wide. What is needed is to improve their living standards by initiating new/increased economic activities with the help of banks, NGO s and local developmental agencies. To start with, it is necessary to develop a fair understanding of their profile. In addition, their perception about the bank and its services needs to be understood. So there is a need for the formal financial system to look at increasing financial literacy and financial counseling to focus on financial inclusion and distress amongst farmers. Indian banks and financial market players should actively look at promoting such programs as a part of their corporate social responsibility. Banks should conduct full day programs for their clientele including farmers for counseling small borrowers for making aware on the implications of the loan, how interest is calculated, and so on, so that they are totally aware of its features. There is a clearly a lot requires to be done in this area. Benefits of financial inclusion Financial inclusion has many benefits. Following are some of the benefits summed up. It paves the way for establishment of an account relationship which helps the poor to avail a variety of savings products and loan products for housing, consumption, etc. An inclusive financial system facilitates efficient allocation of productive resources and thus can potentially reduce the cost of capital. This also enables the customer to remit funds at low cost. The government can utilize such bank accounts for social security services like health and calamity insurance under various schemes for disadvantaged. From the bank s point of view, having such social security cover makes the financing of such persons less risky. Reduced risk means more flow of funds at better rates. Access to appropriate financial services can significantly improve the day-today management of finances. For example, bills for daily utilities (municipality, water, electricity, telephone) can be more easily paid by using cheques or through internet banking, rather than standing in the queue in the offices of the service. Transfer of money can be done more safely and easily by using the cheque, demand draft or through internet banking. A bank account also provides a passport to a range of other financial products and services such as short term credit facilities, overdraft facilities and credit card. Further, 68
6 a number of other financial products, such as insurance and pension products, necessarily require the access to a bank account. II. Approaches of Financial Inclusion According to C. Rangarajan there are six approaches in the system of Financial Inclusion, they are, as follows. First, credit to the farmer households is one of the important elements of financial inclusion among them providing credit to the marginal and sub marginal farmers as well as other small borrowers is crucial to the need of the hour. Second, rural branches must go beyond providing credit and extend a helping hand in terms of advice on a wide variety of matters relating to agriculture. Third, in district where population per branch is much higher than the national average, commercial banks may be encouraged to open the branches. Fourth, there is need for the simplification of the procedures in relation to granting of loans to small borrowers. Fifth, the further strengthening the SHG- Bank Linkage Programme (BLP), as it has proved to be an effective way of providing credit to very small borrowers. Sixth, the business facilitator and correspondent model needs to be effectively implemented. Conclusion Financial exclusion is a manifestation of social exclusion. All the five year plans have an objective of Financial Inclusion. As Financial Inclusion is a vital component of the inclusive growth envisaged for the overall development of the economy, both public and private sectors are working in tandem to leverage the strengths and drive for financial inclusion Financial inclusion will be real and successful only when the small and marginal farmers and landless labourers have unhindered access to the financial services like Savings, Credit, Micro insurance and remittance facilities. Though there is variety of programmes to alleviate poverty and empower rural people, SHGs have done well in the country. The Plan provides a new vision of inclusive. MFIs and Commercial Banks have played a pivotal and are the possible combinations of formal and non-formal institutions that are involved in channeling funds for loans to poor families. 69
7 References 1. Agarwal Amol (2008), The need for financial Inclusion with an Indian Perspective, IDBI GILTS 2. Bock, T.A. Demirguc-Kunt and R. Levine (2007), Reaching out: Access to and use banking services across countries, Journal of Financial Economics, Vol.85, Pp Barr, Michael S. (2005), Microfinance and Financial Development, The John M. Olin Centre for Law & Economics Working Paper Series, University of Michigan Law School, p Government of India (GoI), Economic Survey 2009, New Delhi, Kannan K. P. and Pillai N. Vijayamohanan (2009), Basic Socio-economic security in rural India and China-a comparative study of selected villages, Indian Journal of Human Development, Vol. 3, No. 2, July, Pp Karam Pal and Jasvir Singh. (2006), Efficacy of Regional Rural Banks (RRBs) In India: A Conventional Analysis, JIMS-8M, Indian Journals.com. 7. Ravikumar, B. Ratna (2006), A Primer on Micro Finance The Paradox of Plenty in Poverty The Chartered Accountant, May Reserve Bank Of India (RBI), Report Of The Working Group To Review The Business Correspondent Model, Mumbai, Sivachithappa K (2008), Success story of Poverty Alleviation Through Self-Help Groups, Kurukshetr - Journal on Rural Development, Ministry of Rural Development, New Delhi, Vol. 57 No. 2, December, pp
E- ISSN X ISSN MICRO FINANCE-AN IMPERATIVE FOR FINANCIAL INCLUSION IN INDIA
MICRO FINANCE-AN IMPERATIVE FOR FINANCIAL INCLUSION IN INDIA Dr.K.Jayalakshmi PDF(ICSSR),Dept. of Commerce,S.K.University, Anantapur. Andhra Pradesh. Abstract Financial inclusion is a flagship programme
More informationA Peer Reviewed International Journal of Asian Research Consortium AJRBF:
ABSTRACT A Peer Reviewed International Journal of Asian Research Consortium : ASIAN JOURNAL OF RESEARCH IN BANKING AND FINANCE FINANCIAL INCLUSION AND ROLE OF MICROFINANCE DR. MUKUND CHANDRA MEHTA* *Assistant
More informationFinancial Inclusion & Postal Banking The India Story
Financial Inclusion & Postal Banking The India Story A Presentation by Sandip Ghose Reserve Bank of India at the UPU-AFI Workshop, Berne, Switzerland 9 th & 10 th November, 2009 Financial Inclusion : Definition
More informationRole of Financial Institutions in Promoting Microfinance through SHG Bank Linkage Programme in India
Volume 10 Issue 4, October 2017 Role of Financial Institutions in Promoting Microfinance through Bank Linkage Programme in India Dr. Manpreet Arora Assistant Professor Department of Accounting and Finance
More informationInternational Journal of Advancements in Research & Technology, Volume 3, Issue 1, January ISSN
International Journal of Advancements in Research & Technology, Volume 3, Issue, January-24 95 BANK PERFORMANCE TO HELP THE DEVELOPMENT OF SELF HELP GROUPS (SHGs) Dr. G.Kotreshwar M.Com., Ph.D., Guide,
More informationA STUDY ON FINANCIAL INCLUSION AWARENESS AMONG SELECTED WORKING WOMEN OF SATNA (M.P.)
A STUDY ON FINANCIAL INCLUSION AWARENESS AMONG SELECTED WORKING WOMEN OF SATNA (M.P.) SHWETA SINGH Research scholar at MGCGV Chitrakoot, Satna (M.P.) ABSTRACT This research work is based on the awareness
More informationBANKING WITH THE POOR
BANKING WITH THE POOR - Self Help Group Approach in India. by Ashok Kumar Valaboju M.Sc (Agric.), MBA, CAIIB Senior Branch Manager, Andhra Bank, Gurazala branch, Guntur Dist AP- India India has been fast
More informationAarhat Multidisciplinary International Education Research Journal (AMIERJ) ISSN
Page18 MICRO-FINANCE IN INDIA PROGRESS OF SHG-BANK LINKAGE PROGRAMME RAVINDER KUMAR Deptt. Of Commerce Kurukshetra University Kurukshetra RITIKA Deptt. Of Commerce Kurukshetra University Kurukshetra Abstract
More informationA STUDY ON FINANCIAL INCLUSION WITH SPECIAL REFERENCE TO LAKSHMI VILAS BANK AT PODAKUDY
A STUDY ON FINANCIAL INCLUSION WITH SPECIAL REFERENCE TO LAKSHMI VILAS BANK AT PODAKUDY Dr.R.Prakash Babu 1, B. Saranya 2 1 Research Guide: Dr.R.Prakash Babu., M.Com., MBA.,M.Phil.,Ph.D., Associate Professor,
More informationRole Of Private Sector Banks In Financial Inclusion: A Case Study On West-Bengal
ISSN (Online): 232-9364, ISSN (Print): 232-9356 Volume 2 Issue 3 ǁ. 2 ǁ PP.38-45 Role Of Private Sector Banks In Inclusion: A Case Study On West-Bengal *Mr. SOURAV DUTTA MUSTAFI, **Mr. JOYDEEP CHAKRABORTY
More informationMICROFINANCE: ITS EVOLUTION AND VARIOUS MODELS FOR ENPOWERMENT OF RURAL POOR IN INDIA
MICROFINANCE: ITS EVOLUTION AND VARIOUS MODELS FOR ENPOWERMENT OF RURAL POOR IN INDIA * Mrs. Ghousia Shameen, Assistant Prof., Millennium Institute of Management, Aurangabad. INTRODUCTION: The major concern
More informationFinancial Inclusion in India through SHG-Bank Linkage Programme and other finance Initiatives of NABARD
Financial Inclusion in India through SHG-Bank Linkage Programme and other finance Initiatives of NABARD By A Ramanathan, Chief General Manager Micro Finance Innovations Department NABARD Mumbai What is
More informationMICRO FINANCE: A TOOL FOR SELF EMPLOYMENT WITH SPECIAL REFERENCE TO RURAL POOR
MICRO FINANCE: A TOOL FOR SELF EMPLOYMENT WITH SPECIAL REFERENCE Dr. Babaraju K. Bhatt* Ronak A. Mehta** TO RURAL POOR Abstract: Indian population comprises roughly one sixth of the world s population.
More informationSai Om Journal of Commerce & Management A Peer Reviewed International Journal
Volume 3, Issue 3 (March, 2016) Online ISSN-2347-7571 Published by: Sai Om Publications A STUDY ON FINANCIAL INCLUSION AMONG KUDUMBASREE MEMBERS WITH SPECIAL REFERENCE TO VILLIAPPALLY PANCHAYAT IN CALICUT
More informationA study on the performance of SHG-Bank Linkage Programme towards Savings and Loan disbursements to beneficiaries in India
A study on the performance of SHG-Bank Linkage Programme towards Savings and to beneficiaries in India Prof. Noorbasha Abdul, Ph.D. Professor of Commerce & Management, Acharya Nagarjuna University, Nagarjuna
More informationMicrofinance in Haryana: Evaluation of Self Help Group-Bank Linkage Programme of NABARD in Haryana
Microfinance in Haryana: Evaluation of Self Help Group-Bank Linkage Programme of NABARD in Haryana Sachin 1 and Sameesh Khunger 2 1,2 (Assistant Professor, Department of Business Administration, Chaudhary
More informationROLE OF GOVERNMENT IN FINANCIAL INCLUSION
Continuous issue-14 May - August 2015 ROLE OF GOVERNMENT IN FINANCIAL INCLUSION INTRODUCTION: Providing financial access to the poor by connecting them with banks has always been an important priority
More informationINTERNATIONAL JOURNAL OF RESEARCH AND ANALYSIS VOLUME 3 ISSUE 4
PROGRESS OF FINANCIAL INCLUSION ON BANKING IN INDIA **Dr.M.Meganathan & R.Saravanan Introduction In world more than 150 million people have access to collateral free loans. However, there are still large
More informationEvaluation of SHG-Bank Linkage: A Case Study of Rural Andhra Pradesh Women
EUROPEAN ACADEMIC RESEARCH Vol. II, Issue 8/ November 2014 ISSN 2286-4822 www.euacademic.org Impact Factor: 3.1 (UIF) DRJI Value: 5.9 (B+) Evaluation of SHG-Bank Linkage: A Case Study of Rural Andhra Pradesh
More informationFinancial Inclusion and India-Challenges, Opportunities
Financial Inclusion and India-Challenges, Opportunities New Horizon College, 3 RD A Cross, 2 nd A main, Kasturinagar, Bangalore-560003. Abstract In recent times Financial Inclusion and Inclusive Growth
More informationA STUDY ON EVALUATION OF THE PERFORMANCE OF FINANCIAL INCLUSION PLANS (FIP) OF BANKS, IN INDIA FOR THE PERIOD ( )
A STUDY ON EVALUATION OF THE PERFORMANCE OF FINANCIAL INCLUSION PLANS (FIP) OF BANKS, IN INDIA FOR THE PERIOD (2010-16) Dr. Rajeev K. Saxena Associate Professor Department of EAFM University of Rajasthan,
More informationAnalysis on Determinants of Micro-Credit Borrowings Rural SHG Women in North Coastal Andhra Pradesh
Analysis on Determinants of Micro-Credit Borrowings Rural SHG Women in North Coastal Andhra Pradesh M. Madhuri Dept. of Commerce and Management Studies, Andhra University, Visakhapatnam, Andhra Pradesh
More informationAccess to Financial Services to the Rural Household Enterprises A Study of Srikakulam District, Andhra Pradesh
Access to Financial Services to the Rural Household Enterprises A Study of Srikakulam District, Andhra Pradesh Ch. Ganga Bhavani *, Prof.P. Veni** * Research Scholar, Department of Commerce and Management
More informationImpact of Microfinance on Indebtedness to Informal Sources among Clients of Microfinance Models in Palakkad
Impact of Microfinance on Indebtedness to Informal Sources among Clients of Microfinance Models in Palakkad Deepa Viswan Research Scholar, Department of Commerce and Management Studies University of Calicut
More informationPMJDY: A gateway to Financial Inclusion
ABSTRACT PMJDY: A gateway to Financial Inclusion Assistant Professor, Shaheed Bhagat Singh College, Delhi University, New Delhi, India. PMJDY initiated on the principle of Sab ka sath, sab ka Vikas clearly
More informationFinancial Inclusion for Inclusive Growth in India
Financial Inclusion for Inclusive Growth in India Ms. Chitra Saruparia Assistant Professor, Faculty of Policy Science National Law University, Jodhpur chitrasnlu@gmail.com Introduction The term inclusive
More informationWorld Review of Entrepreneurship, Management and Sust. Development, Vol. 1, No. 1,
World Review of Entrepreneurship, Management and Sust. Development, Vol. 1, No. 1, 2005 91 Micro credit in India: an overview Mohanan Sankaran Faculty of Economics and Business Administration, Department
More informationThe Role Of Micro Finance In Women s Empowerment (An Empirical Study In Chittoor Rural Shg s) In A.P.
The Role Of Micro Finance In Women s Empowerment (An Empirical Study In Chittoor Rural Shg s) In A.P. Dr. S. Sugunamma Lecturer in Economics, P.V.K.N. Govt College, Chittoor Abstract: The SHG method is
More informationRole of RRBs in the Promotion of Self Help Groups in India (An Analytical Study)
International Journal of Scientific and Research Publications, Volume 5, Issue 9, September 2015 1 Role of RRBs in the Promotion of Self Help Groups in India (An Analytical Study) Dr. Anoop Kumar Singh
More informationROLE OF BANKING SECTOR IN THE DEVELOPMENT OF RURAL AREA
ROLE OF BANKING SECTOR IN THE DEVELOPMENT OF RURAL AREA GAWADE NILESH BABASAHEB Assistant Professor, Department of Commerce, Sant Dnyaneshwar Mahavidyalaya, Soegaon, Dist : Aurangabad (M.S) 431120, MS,
More informationMicrofinance: A Tool of Poverty Alleviation with Bank Linkage Programme in Himachal Pradesh
Microfinance: A Tool of Poverty Alleviation with Bank Linkage Programme in Himachal Pradesh - Mr. Rishi Kant * - Mr. Suyash Mishra ** - Ms. Swati Singh *** Abstract Microfinance sector has traversed a
More informationNon financial services like training, counseling etc.
1.1 INTRODUCTION Micro finance in India is still in its burgeoning. Micro finance hitherto remains a powerful tool for development. It may be a universal remedy, but it has brought many changes in the
More informationEMPOWERING FINANCIAL INCLUSION THROUGH FINANCIAL LITERACY
Abstract EMPOWERING FINANCIAL INCLUSION THROUGH FINANCIAL LITERACY The term financial inclusion means availability of banking services at an affordable cost to disadvantaged and low-income groups. The
More informationRoleofPrimaryAgriculturalCoOperativeSocietyPacsinAgriculturalDevelopmentinIndia
Global Journal of Management and Business Research: C Finance Volume 17 Issue 3 Version 1.0 Year 2017 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Inc. (USA)
More informationAfrican Journal of Hospitality, Tourism and Leisure Vol. 1 (3) - (2011) ISSN: Abstract
African Journal of Hospitality, Tourism and Leisure Vol. 1 (3) - (2011) ISSN: 1819-2025 Micro-Women Entrepreneurship and its potential for hospitality and tourism related enterprises amongst others: a
More informationwww. epratrust.com Impact Factor : p- ISSN : e-issn : January 2015 Vol - 3 Issue- 1
www. epratrust.com Impact Factor : 0.998 p- ISSN : 2349-0187 e-issn : 2347-9671 January 2015 Vol - 3 Issue- 1 ROLE AND IMPACT OF MICROFINANCE ON WOMEN SELF HELP GROUPS (SHGS) WITH SPECIAL REFERENCE TO
More informationAnalysis of Efficiency of Microfinance Providers in Rural Areas of Maharashtra
IOSR Journal of Economics and Finance (IOSR-JEF) e-issn: 2321-5933, p-issn: 2321-5925. PP 37-41 www.iosrjournals.org Analysis of Efficiency of Microfinance Providers in Rural Areas of Maharashtra Ms. Mrinal
More information18th Year of Publication. A monthly publication from South Indian Bank.
To kindle interest in economic affairs... To empower the student community... Open YAccess www.sib.co.in ho2099@sib.co.in A monthly publication from South Indian Bank 18th Year of Publication Experience
More informationMicro Finance in the World and in India: Status, Problems and Prospects
Micro Finance in the World and in India: Status, Problems and Prospects By Vijay Mahajan Chair, CGAP ExCom Founder and CEO, BASIX Social Enterprise Group, India President, MFIN (MFI Network of India) March
More informationABSTRACT. Keywords: Financial Inclusion, poverty, NABARD, economic growth, bank branch penetration, Financial products,
Critical appraisal of Process of Financial Inclusion and Indian Banking Sector By Dr. S. K. Pole Principal, S.B.B. alias Appasaheb Jedhe Arts, Commerce & Science College, Shukrawar Peth, Pune 411002, Maharashtra
More informationROLE OF RRB IN RURAL DEVELOPMENT. G.K.Lavanya, Assistant Professor, St.Joseph scollege
ROLE OF RRB IN RURAL DEVELOPMENT G.K.Lavanya, Assistant Professor, St.Joseph scollege ABSTRACT: The importance of the rural banking in the economic development of a country cannot be overlooked. The objective
More informationFINANCIAL INCLUSION USING PRADHAN MANTRI JAN-DHAN YOJANA A CONCEPTUAL STUDY
FINANCIAL INCLUSION USING PRADHAN MANTRI JAN-DHAN YOJANA A CONCEPTUAL STUDY Mr. Divyesh Kumar, Research Scholar, Assistant Professor, Dayananda Sagar Academy of Technology and Management, Udayapura, Kanakapura
More informationPerformance Appraisal of Andhra Bank and its role in Financial Inclusion
WWW..COM ISSN: 2278-3970 Performance Appraisal of Andhra Bank and its role in Financial Inclusion Dr. K.V.S.Prasad 1, Prof. G. Sudarsana Rao 2 1 Assistant Professor, Department of Basic Science and Humanities,
More informationA Role of Joint Liability Group (JLG) in Rural Area: A Case Study of Southern Region of India
Euro-Asian Journal of Economics and Finance ISSN: 2310-0184(print) ISSN: 2310-4929 (online) Volume: 2, Issue: 1(January 2014), Pages: 13-20 Academy of Business & Scientific Research http://www.absronline.org/journals
More informationINTERCONTINENTAL JOURNAL OF FINANCE RESEARCH REVIEW
ROLE OF MICROFINCE EMPOWER WOMEN THROUGH SELF HELP GROUPS IN TAMILNADU Dr.S.RAJA 1 M.ANNAM 2 1 Associate Professor, PG Department of Commerce& Research Centre, Vevekananda College, Tiruvendakam West, Madurai,
More informationDirecting the Credit for Agricultural Growth in Jammu & Kashmir
: Vol. 59 Special Issue: 767-772: 2014 78 Directing the Credit for Agricultural Growth in Jammu & Kashmir Sudhakar Dwivedi 1*, Pawan Kumar Sharma 2 and Rajinder Peshin 3 1, 2 Division of Agricultural Economics
More informationPMJDY : A CONCEPTUAL ANALYSIS AND INCLUSIVE FINANCING Dr. Vinit Kumar*, Dolly Singh**
PMJDY : A CONCEPTUAL ANALYSIS AND INCLUSIVE FINANCING Dr. Vinit Kumar*, Dolly Singh** *Deptt. of Human Rights, School for Legal Studies, B. B. Ambedkar University, Lucknow-25 **M.Phil Scholar, Deptt. of
More informationFinancial Inclusion in India: Challenges and Opportunities Ms. Richa Aggarwal 1
Financial Inclusion in India: Challenges and Opportunities Ms. Richa Aggarwal 1 ABSTRACT A robust and strong financial system is an essential pillar of sustainable development, economic growth, and progress
More informationImpact of Deprived Sector Credit Policy on Micro Financing Presented by Nepal Rastra Bank
Impact of Deprived Sector Credit Policy on Micro Financing Presented by Nepal Rastra Bank Introduction: The deprived sector credit policy is directed credit policy of Nepal Rastra Bank, which is designed
More informationProgress of financial inclusion through Pradhan Mantri Jan Dhan Yojana
Progress of financial inclusion through Pradhan Mantri Jan Dhan Yojana Irrinki Mohana Krishna, Research Scholar, JNTUK, KAKINADA & Associate Professor, MBA Dept, Kakinada Institute of Engineering & Technology,
More informationY V Reddy: Micro-finance - Reserve Bank s approach
Y V Reddy: Micro-finance - Reserve Bank s approach Address by Dr Y V Reddy, Governor of the Reserve Bank of India, at the Micro-Finance Conference organised by the Indian School of Business, Hyderabad,
More informatione-issn : p- ISSN : Impact Factor : www. epratrust.com September 2014 Vol - 2 Issue- 9
e-issn : 2347-9671 p- ISSN : 2349-0187 Impact Factor : 0.998 www. epratrust.com A STUDY ON EXTENT OF FINANCIAL INCLUSION AMONG RURAL HOUSEHOLDS IN KERALA 1 Research Scholar, Department of Commerce and
More informationFinancial Inclusion: Issues and Prospects
Pacific Business Review International 84 Pacific Volume Business 5 Issue Review 3 (September International 2012) Financial Inclusion: Issues and Prospects PROF. N.S RAO*, MRS. HARSHITA BHATNAGAR** Strong
More informationInternational Journal of Advancements in Research & Technology, Volume 3, Issue 11, November ISSN
International Journal of Advancements in Research & Technology, Volume 3, Issue 11, November -2014 13 FINANCIAL INCLUSION IN INDIA AN OVERVIEW Dr. N. K. Sathya Pal Sharma M. Com., Ph.D., Department of
More informationFINANCIAL LITERACY: AN INDIAN SCENARIO
ABSTRACT FINANCIAL LITERACY: AN INDIAN SCENARIO DEAN ROY NASH* *Research Associate in Commerce, Saint Albert s College, Ernakulam, Kerala, India. Financial literacy is nothing but knowledge about finance.
More informationRole of Financial Inclusion in the Development of Economic Growth: A Review. Garima Jindal 1, Mohini 2
ISSN UA Volume 01 Issue 01 May-2018 Role of Financial Inclusion in the Development of Economic Growth: A Review Garima Jindal 1, Mohini 2 Available online at: www.xournals.com Received 8 th January 2018
More informationEMPOWERING WOMEN STREET VENDORS THROUGH MICRO- FINANCING: A STUDY IN SIVASAGAR TOWN OF ASSAM
114 EMPOWERING WOMEN STREET VENDORS THROUGH MICRO- FINANCING: A STUDY IN SIVASAGAR TOWN OF ASSAM ABSTRACT DR. KUMUD CHANDRA GOSWAMI* *Professor and Head, Department of Commerce, Dibrugarh University, Dibrugarh
More informationISSN (Paper) ISSN (Online) Vol.3, No.10, 2012 Financial Inclusion
Self Help Group (SHG)- Bank Linkage Model A Viable Tool for Financial Inclusion J.Santosh Rupa 1 Dr. Mousumi Majumdar 2* Dr. V. Ramanujam 3 1. Bangalore Management Academy, Outer Ring Road, Bangalore,
More informationA Case Study on Women Empowerment and Financial Literacy through SHGs
Available online at : http://euroasiapub.org, pp~295~301, Thomson Reuters ID: L-5236-2015 A Case Study on Women Empowerment and Financial Literacy through SHGs Dr. Pradipta Banerjee 1, Assistant Professor,
More informationInternational Journal of Business and Administration Research Review, Vol. 2 Issue.10, April- June, Page 126
PMJDY: A BOLD PATH WAY FOR FINANACIAL INCLUSION Aswathy V K * Shiny V N** *Research scholar in commerce, Kerala University Library Research Centre, University of Kerala. **Research scholar in commerce,
More informationASSESSING THE IMPACT OF FINANCIAL INCLUSION ON BANKING SYSTEM
ASSESSING THE IMPACT OF FINANCIAL INCLUSION ON BANKING SYSTEM S. Jacob Mathan 1, Dr. A. Kavitha 2 1 Ph.D Parttime research scholar, PG and research department of Commerce, Assistant professor, Department
More informationChapter-VII Data Analysis and Interpretation
Chapter-VII Data Analysis and Interpretation 16 CHAPTER-VII DATA ANALYSIS AND INTERPRETATION In order to arrive at a logical and constructive analysis of micro financing by commercial banks in Rajasthan
More informationAiro International Research Journal ISSN: March, 2017 Volume IX
1 Impact of Demonetization on Financial inclusion D. VENKAIAH M.Com;M.B.A;M.Phil; (PhD) Research Scholar G.Pulla Reddy Degree & P.G College Abstract Demonetization causes inconvenience for initial few
More informationRole of Micro Finance Institutions in Development of Micro- Enterprises (MSMEs) in Mumbai - An Empirical Study
Role of Micro Finance Institutions in Development of Micro- Enterprises (MSMEs) in Mumbai - An Empirical Study Prof. (Ms.) Gazia Sayed 1 Dr. Pankaj Trivedi 2 Abstract: This research paper is based on the
More informationWTO: The Question of Microfinance in LEDCs Cambridge Model United Nations 2018
Study Guide: The Question of Microfinance in LEDCs Committee: World Trade Organisation Topic: The Question of Microfinance in LEDC s Introduction: Micro financing has been used as a way of helping those
More informationASIAN JOURNAL OF MANAGEMENT RESEARCH Online Open Access publishing platform for Management Research
ASIAN JOURNAL OF MANAGEMENT RESEARCH Online Open Access publishing platform for Management Research Copyright 2010 All rights reserved Integrated Publishing association Case study ISSN 2229 3795 Women
More informationMr. Vijay V. Khandare Assistant Professor in Economics, SNDT College of Arts and SCB College of Commerce for women, Churchgate, Mumbai-20.
10. FINANCIAL INCLUSION: AN OVERVIEW OF CREDIT PENETRATION TOAGRICULTURAL SECTOR IN INDIA Mr. Vijay V. Khandare Assistant Professor in Economics, SNDT College of Arts and SCB College of Commerce for women,
More informationPerception of Bank Customers about Financial Inclusion Programmes (A Comparative Study of Punjab and Haryana)
Perception of Bank Customers about Financial Inclusion Programmes (A Comparative Study of Punjab and Haryana) Kawal Nain Singh Research Scholar, Punjabi University, Patiala Navdeep Kaur Assistant Professor,
More informationTHE POVERTY EFFECTS OF MICROFINANCE UNDER SELF-HELP GROUP BANK LINKAGE PROGRAMME MODEL IN INDIA
THE POVERTY EFFECTS OF MICROFINANCE UNDER SELF-HELP GROUP BANK LINKAGE PROGRAMME MODEL IN INDIA BY ATUL MEHTA A THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE FELLOW PROGRAMME IN MANAGEMENT
More informationIDBI Bank Ltd. Financial Inclusion : Achievements
Background IDBI Bank Ltd. Financial Inclusion : Achievements 2013-14 The Government of India, in concert with the Reserve Bank of India, has embarked upon the mission of fostering inclusive growth in the
More informationPerception of Lead Bank Managers about Financial Inclusion Programmes (A Comparative Study of Punjab and Haryana)
Perception of Lead Bank Managers about Financial Inclusion Programmes (A Comparative Study of Punjab and Haryana) Dr.Harpreet Kaur Assistant Professor, Department of Commerce Punjabi University,Patiala
More informationAsha for Education Fellowship Application Form
Asha for Education Fellowship Application Form SECTION I: Personal Contact Information Name : Sanju Kumar Address : H.No.144, 2 nd Cross, Behind Bus Stand C.I.B Colony, Gulbarga-585104 Karnataka State,
More informationBanking Awareness of The Residents in The Present Financial Inclusion ERA in Nagapattinam District, Tamil Nadu
Banking Awareness of The Residents in The Present Financial Inclusion ERA in Nagapattinam District, Tamil Nadu Dr. S. Rajaswaminathan Guest Faculty, Department of Commerce School of Management, Pondicherry
More informationFinancial Inclusion in India: An Emerging issue in Indian Economy
Financial Inclusion in India: An Emerging issue in Indian Economy Mr.Anuj Jatav Assistant Professor, Department of Commerce, College of Vocational Studies, University of Delhi. Abstract: Financial Inclusion
More informationFinancial Inclusion Initiatives in India
International Journal of Trade & Commerce-IIARTC July-December 2017, Volume 6, No. 2 pp. 492-500 SGSR. (www.sgsrjournals.co.in) All rights reserved UGC COSMOS (Germany) JIF: 5.135; ISRA JIF: 4.816; NAAS
More informationRole of Microfinance in Financial Inclusion in Bihar- A Case Study
IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X, p-issn: 2319-7668. Volume 19, Issue 9. Ver. VIII (September 2017), PP 39-48 www.iosrjournals.org Role of Microfinance in Financial
More informationWomen empowerment through financial inclusion A study with reference to YSR Kadapa district of Andhra Pradesh
2017; 3(4): 509-513 ISSN Print: 2394-7500 ISSN Online: 2394-5869 Impact Factor: 5.2 IJAR 2017; 3(4): 509-513 www.allresearchjournal.com Received: 12-02-2017 Accepted: 13-03-2017 V Guru Leela Kumari Assistant
More informationSAMRUDHI Micro Fin Society (SMS) Brief Profile
SAMRUDHI Micro Fin Society (SMS) Brief Profile 1 The Problem Sixty percent of the population in India lives below poverty line and they suffers from high rates of hunger and malnutrition. To cope with
More informationBanking Sector In India
Tactful Management Research Journal Vol. 1, Issue. 1, Oct 2012 ORIGINAL ARTICLE ISSN :2319-7943 Banking Sector In India B. H. Damji Dept of Economics, D.B.F.Dayanand College of Arts & Sci., SOLAPUR Abstract:
More informationInternational Journal of Business and Administration Research Review, Vol. 1 Issue.11, July - Sep, Page 42
MICRO FINANCE IN INDIA: CHALLENGES Meenakshi,* Shweta Bathla** *Department of commerce, Arya P.G. College, Panipat, Haryana, India. **Department of commerce, Arya P.G. College, Panipat, Haryana, India.
More informationA STUDY ON FINANCIAL INCLUSION PLANS OF SCHEDULED COMMERCIAL BANKS IN INDIA
A STUDY ON FINANCIAL INCLUSION PLANS OF SCHEDULED COMMERCIAL BANKS IN INDIA Dr. M. Anbalagan, M.Com, M. Phil, B.Ed. Ph.D. Assistant Professor in Commerce Kalasalingam University, Krishnankoil & Prof. M.
More informationFUNCTIONAL PROGRESS OF REGIONAL RURAL BANKS IN PRIORITY SECTOR LENDING: A CASE STUDY OF PUNJAB STATE
I.J.E.M.S., VOL.6 (4) 2015: 197-210 ISSN 2229-600X FUNCTIONAL PROGRESS OF REGIONAL RURAL BANKS IN PRIORITY SECTOR LENDING: A CASE STUDY OF PUNJAB STATE Kaushal Meetu Vivek High School Chandigarh, Union
More informationAnalysis of Financial Inclusion Opportunities and Challenges for India
18 Analysis of Financial Inclusion Opportunities and Challenges for India ABSTRACT: Dr. G. Gangaiah Lecturers in Commerce Govt. Degree College, Nagari. ggyadav2010@gmail.com Cell:9290293399 The banking
More informationQuestions/Concerns regarding PAT CDP through Microcredit proposal
Questions/Concerns regarding PAT CDP through Microcredit proposal 1) In the proposal, it says - almost all our 35000 target members in Ariyalur, Trichy and Tanjore Districts in TamilNadu... What kind of
More informationEradication of Poverty and Women Empowerment A study of Kudumbashree Projects in Ernakulum District of Kerala, India
Eradication of Poverty and Women Empowerment A study of Kudumbashree Projects in Ernakulum District of Kerala, India Taramol K.G., Manipal University, Faculty of Management, Dubai, UAE. Email: taramol.kg@manipaldubai.com
More information18th Year of Publication. A monthly publication from South Indian Bank.
To kindle interest in economic affairs... To empower the student community... Open YAccess www.sib.co.in ho2099@sib.co.in A monthly publication from South Indian Bank 18th Year of Publication SIB STUDENTS
More informationOPERATIONAL EFFICIENCY OF REGIONAL RURAL BANKS AND OTHER COMMERCIAL BANKS OF ODISHA INDIA: A COMPARATIVE STUDY
OPERATIONAL EFFICIENCY OF REGIONAL RURAL BANKS AND OTHER COMMERCIAL BANKS OF ODISHA INDIA: A COMPARATIVE STUDY Prof. RN Subudhi & Jitendra K. Ram School of Management, KIIT University Bhubaneswar, India
More informationRwanda Targeting 80 Per Cent Financial Inclusion in 2017
59 Rwanda Targeting 80 Per Cent Financial Inclusion in 2017 Rugazura Ephraim, Ph.D Scholar, Department of Rural Management, Annamalai University, Annamalainagar ABSTRACT Background: In order to achieve
More informationBajaj Allianz Micro Insurance Initiative - India Case Study
Bajaj Allianz Micro Insurance Initiative - India Case Study 9th International Micro Insurance Conference 2013 14 th November 2013, Jakarta Presented by - Yogesh Gupta Senior Vice President & Head Business
More informationA STUDY ON PROGRESS OF MICRO FINANCE INSTITUTIONS BANK LINKAGE PROGRAM IN INDIA *Dr. Krishna Banana, Research Supervisor, Dept.
A STUDY ON PROGRESS OF MICRO FINANCE INSTITUTIONS BANK LINKAGE PROGRAM IN INDIA *Dr. Krishna Banana, Research Supervisor, Dept. of Commerce & Business Administration Acharya Nagarjuna University Ongole
More informationA.ANITHA Assistant Professor in BBA, Sree Saraswathi Thyagaraja College, Pollachi
THE ROLE OF PARALLEL MICRO FINANCE INSTITUTIONS IN POVERTY ALLEVIATION IN RURAL TAMILNADU A STUDY WITH SPECIAL REFERENCE TO UDUMALPET TALUK, TIRUPUR DISTRICT A.ANITHA Assistant Professor in BBA, Sree Saraswathi
More informationA Study On Micro Finance And Women Empowerment In Thanjavur District
Original Paper Volume 2 Issue 8 April 2015 International Journal of Informative & Futuristic Research ISSN (Online): 2347-1697 A Study On Micro Finance And Women Paper ID IJIFR/ V2/ E8/ 020 Page No. 2636-2643
More informationStandard Fireworks Rajaratnam,College for Women, Sivakasi,
International Journal of Research in Social Sciences Vol. 7 Issue 4, April 2017, ISSN: 2249-2496 Impact Factor: 7.081 Journal Homepage: Double-Blind Peer Reviewed Refereed Open Access International Journal
More informationAiro International Research Journal June, 2017 Volume XI, ISSN:
1 FINANCIAL INCLUSION THROUGH BUSINESS CORRESPONDENT MODEL IN HARYANA: A CRITICAL ANALYSIS Manoj Siwach 1 and Kavita Gahlot 2 Declaration of Author: I hereby declare that the content of this research paper
More informationReviewing the Role of Namibia Post Savings Bank (NSB) in Broadening Access to Financial Services to the Poor. Problem Statement Background...
Reviewing the Role of Namibia Post Savings Bank (NSB) in Broadening Access to Financial Services to the Poor Table of Contents Problem Statement... 3 Background... 3 Analysis... 4 The Status Quo of Nampost
More informationSignificance of microfinance institutions in rural development of India
International Letters of Social and Humanistic Sciences Online: 2014-02-08 ISSN: 2300-2697, Vol. 21, pp 84-90 doi:10.18052/www.scipress.com/ilshs.21.84 2014 SciPress Ltd., Switzerland Significance of microfinance
More informationCost of social banking
Cost of social banking The traditional self-centered, profit-oriented banking concept is fading, and a modern socio-economic role is emerging for the. The social control imposed over for the first time
More informationIJEMR - May Vol.2 Issue 5 - Online - ISSN Print - ISSN
Role of Public Sector Banks in Microfinance - A Study of Public Sector Banks in the Southern Region of India * Dr. Sujatha Susanna Kumari. D Asst. Professor, Dept. of Commerce, School of Business Studies,
More informationEmpowering Women Through Micro Finance- A Nbfc Approach
IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X, p-issn: 2319-7668. Volume 20, Issue 9. Ver. V (September. 2018), PP 18-26 www.iosrjournals.org Empowering Women Through Micro Finance-
More informationFINANCIAL INCLUSION AND SOCIAL CHANGES
FINANCIAL INCLUSION AND SOCIAL CHANGES Asst. Professor Poona College, Pune (MS) INDIA The concept of Inclusive growth was first envisaged in the Eleventh five year plan document which intended to achieve
More information