Describe the concept, structure and characteristics of microfinance in India.

Microfinance in India refers to the provision of financial services to low-income individuals or groups who typically lack access to traditional banking services. It encompasses a wide range of financial products such as loans, savings, insurance, and remittances tailored to the specific needs of this demographic. Microfinance institutions (MFIs) play a crucial role in delivering these services, often targeting marginalized communities, especially in rural areas.

Concept of Microfinance in India:

The concept of microfinance in India emerged in the 1970s and gained momentum in the 1990s with the establishment of various microfinance institutions _______ ______ ___ ____ __________ __________ _______ ____ ________.
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