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VOL. 2, ISSUE 3 (2017)
An analysis of awareness level of people about microfinance services: A study in Delhi
Authors
Pallavi Ahuja, Dr. JK Batra
Abstract
Microfinance service is promoted as a poverty relieving tool with a noble cause for many developing countries and economies in the last decade. It has directed the path of growth and development to many backward economies. It was started in the year 1974 as an experiment to help poor families of small village named Jobra in Bangladesh by professor – Dr. Muhammad Yunus. Endless efforts of Muhammad Yunus to help the under privileged financially led to the establishment of a Grameen Bank in 1979. By 1991 the Grameen Bank had around a million members in Bangladesh, and by the year 2002 the number had augmented to 2.4 million. Micro-finance programs and institutions have played an important part in reducing poverty and empowering poor women beneficiaries. On one hand, it has been found that micro-finance services have brought about positive socio-economic impacts and resulted in empowerment of poor women (Mosley P. 2001; Hashemi et al. 1996; Sharma P. 2007) while on the other hand, some researches have shown negative impacts on borrowers (Aslanbeigui N, Oakes G and Uddin N. 2010; Narayanan P. 2003). Evaluating such observations, the assessment of microfinance services becomes a noteworthy issue for researchers and academicians. Micro-finance programs have recently become one of the most promising ways to make judicious use of scarce development funds to achieve the alleviation in poverty. The basic idea of micro-finance is simple: if poor people are provided access to financial services, including credit, it can make them capable of starting or expanding a micro-enterprise that will allow them to rise. But to make it a successful tool proper access of the policies to poor and the awareness of the poor regarding the various microfinance programmes is essential. Though there have been a large number of studies on microfinance regulations and policies, awareness of microfinance in Delhi has not received much attention so far. Therefore, the present study assumes great importance in micro-finance industry. For the purpose of study, primary data can be collected from officials of different micro-finance institutions operating in Delhi and poor people living in the backward areas of Delhi. The statement of problem, therefore, is “An Analysis on awareness levels of people about the microfinance services: A study in Delhi”.
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Pages:331-337
How to cite this article:
Pallavi Ahuja, Dr. JK Batra "An analysis of awareness level of people about microfinance services: A study in Delhi". National Journal of Multidisciplinary Research and Development, Vol 2, Issue 3, 2017, Pages 331-337
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