THE ECONOMIC IMPACT OF MICROCREDIT DISBURSED THROUGH SHG’s; A STUDY IN KERALA STATE
Author’s Name : Boney Bose
Volume 03 Issue 01 Year 2016 ISSN No: 2349-7289 Page no: 17-20
Poverty in India is widespread with the nation estimated to have one third of world’s poor. Microfinance has been proposed as a possible solution for the maximum outreach and alleviation of poverty in the rural poor especially the disadvantageous sections of the society. In terms of financial exclusion India’s world rank is 4th with 135 million people. The term empowerment has been widely employed for over a decade, both in the discourse of international organizations and by politicians and actors in the field, notably by those promoting microfinance schemes throughout the world. Generally speaking, empowerment refers to greater access to power by underprivileged or vulnerable segments of the population. In India, therefore, this includes the poor, women, and also the scheduled castes (SC) and scheduled tribes (ST). In its initial judicial meaning (Oxford Dictionary), to empower is to give somebody the power or authority to do something. This paper examines the role of micro finance for empowerment of rural poor.
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