What is Microfinance? Discuss the factors that have Encouraged Microfi

Question

What is Microfinance? Discuss the factors that have Encouraged Microfinance in India.

27 Mar 2022

Answer :

Word Count : 456

Microfinance, also called microcredit, is a type of banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services.

Microfinance services are provided to unemployed or low-income individuals because most of those trapped in poverty, or who have limited financial resources, do not have enough income to do business with traditional financial institutions.

The factors that have Encouraged Microfinance in India.

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