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Microfinance is a financial service that provides small loans, savings, and insurance products to low-income individuals, especially those who are not eligible for traditional banking services. The objective of microfinance is to empower poor individuals by providing them with financial tools that can help them create a sustainable livelihood for themselves and their families. The microfinance industry has been growing rapidly in recent years, particularly in developing countries like India. In this essay, we will discuss the factors that have contributed to the growth of microfinance in India.

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