Authors

1. Dr. Sonal Jain
2. Ms. Reema Singh

Affiliation

• Professor Deepshikha College of Technical Education Jaipur
• Associate Professor Deepshikha College of Technical Education Jaipur

Abstract

Since 1990s, the focus on poverty eradication has resulted in achievement of goal of overall economic development of nation. To reduce poverty especially in developing countries, Microfinance works as an effective tool for poverty alleviation. Within this framework, various initiatives have been taken by NABARD in the form of MFIs, SHGs (Self Help Groups), NGOs and Government bank linkage program to lessen the poverty by providing micro financial instruments such as Microcredit and micro insurance are dealt with. Microfinance institutions through a number of services can enable the poor to smoothen their livelihood, manage their risks better, utilize their skills, build their assets gradually, develop their micro enterprises, enhance their income earning capacity, and enjoy an improved quality of life. “In this article, we suggest how poverty reduction can be achieved through alleviation measures that enable the poor to avail the credit facilities that include not only money to invest in a business but also consulting services to help the business succeed.”

Keywords

Poverty alleviation, Microcredit, , Microfinance, , SHGs

References

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