A SHORT REVIEW ON MICROFINANCE AND ITS OUTREACH IN MADHYA PRADESH

Authors

Devendra Verma, Research Scholar
Department of Commerce, MEDI-CAPS University, Indore, India.

Dr. Anupama. Pardeshi, Assistant Professor
Department of Management & Commerce, MEDI-CAPS University, Indore India.

Abstract

A well developed financial set-up promotes growth in an economy. Thus it’s necessary that government need to concentrate on expanding financial services to both rural and concrete to confirm sustainable growth. Microfinance is defined because the development tool. It provides financial assistance to those that need and also help to take care of the livelihood. variety of study on microfinance show positive impact. This paper explain the importance, need of review of literature and also the related review of studies to the subject. Microfinance in India is of a relatively recent origin, within the last 20 years there has been a rapid climb within the number of institutions offering microfinance education. The studies demonstrated the expansion of microfinance. Microfinance provides a possible support to small business and helps in their growth. This study examines the expansion, impact of microfinance in country of India. the expansion of small scale business mainly depends upon finance during which microfinance industry (MFIs) play imperative role. In India about 65 to 70 percent belongs to geographic area and approx 60 percent depends on agriculture and tiny business which require to be finance properly. Microfinance thought to be best tool for socio-economic development and poverty alleviation.