ROLE OF MICROFINANCE INSTITUTIONS IN FINANCIAL INCLUSION IN INDIA

Authors

  • Dr. Aastha Sharma
  • Dr. Megha Sharma
  • Mr. Gunwant Awasthi
  • Ms. Lata Poojari

Keywords:

Financial inclusion; Microfinance Institutions, Indian Economy, Micro Credit, Financial Independence

Abstract

Financial inclusion is emerging as a new paradigm of economic growth that plays major role in driving away the poverty from the country. Banking services are making accessible to masses including privileged and disadvantaged people at an affordable terms and conditions. But a section of the society in developing economy still deprived of financial services. Microfinance institutions plays a very significant role in bridging the gap. Financial inclusion is important priority of the country in terms of economic growth and advanceness of society. It enables to reduce the gap between rich and poor population. In the current scenario financial institutions are the robust pillars of progress, economic growth and development of the economy. The present study aims to examine Microfinance impact on financial inclusion in the economy. Secondary data has been taken for analysing the impact of microfinance institutions in India. Results of the study found positive and there is significant impact of Microfinance institutions on financial inclusion aspect.

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Published

2023-03-30

How to Cite

Sharma, D. A. ., Sharma, D. M. ., Awasthi, M. G. ., & Poojari, M. L. . (2023). ROLE OF MICROFINANCE INSTITUTIONS IN FINANCIAL INCLUSION IN INDIA. The Journal of Contemporary Issues in Business and Government, 29(1), 662–669. Retrieved from https://cibgp.com/au/index.php/1323-6903/article/view/2535

Issue

Vol. 29 No. 1 (2023): The journal of contemporary issues in business and government

Section

Articles

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