Microfinance has been a tool of change for years, particularly for rural women, who are the primary recipients of micro-loans, but it is not just a tool to alleviate poverty. For years, microfinance has been a catalyst towards individual development
Microfinance, with its proven viability of business model and ability to reach even the most remote places, will continue to remain a relevant for a large percentage of the population.
The success of microfinance in India, a proven fact over the last few years, clearly reveals the viability of the business model followed across the country. Additionally it also has the ability to reach out to a large percentage of
For microcredit to work, some traditional tools like credit checks and collateral needs to be discarded if the system has to achieve some genuine benefits without seeming like charity.
It is important that the banking system understands how to provide microfinance without making it look like something short of charity. Not only has microfinance proved it is viable as a business model, it has also shown its capacity to
Microfinance loans can be a sector to pursue both financial inclusion and cashless economy since the sector has the potential to create significant empowerment and impact.
The fact that the country’s financial scene has changed since November 2016 is plain for all to see, since the government demonetized two high denomination notes and has been working on a digital India. With the focus more on cashless
Empowering women in rural areas and helping them to change their lives so that they can grow along with their families and other women around them.
The primary clientele of MFIs like VFS are women. In fact, MFIs like us provide credit only to women because women, when empowered, have the capacity to improve the financial condition of not just their immediate family but also other
Spreading financial literacy is the first step towards financial inclusion.
Bankers, policy-makers and analysts have all accepted the need for financial literacy and its significance in the road towards wider financial inclusion. The practicalities of this belief have been further reinforced by studies on financial literacy initiatives and the financial
In a country where one in two people still do not have a bank account and only 15 percent have access to formal credit lines, it is important to seriously think of the right to financial inclusion as a fundamental right.
For India, a country of 1.3 billion, financial inclusion can be a difficult job but the idea of loan waiver following natural calamities do not always seem prudent and could cause a drain to the nation’s funds. Instead, the government
Microfinance will continue to remain a relevant and important channel for providing financial services to a vast segment of the population, where Formal Credit Support does not reach.
Over the last few decades that microfinance has been involved with raising awareness about financial transactions and proper savings, particularly among the mostly uneducated rural populace, MFIs have become an integral and crucial part of India’s growth story. Not only
The role played by microfinance is not just to uplift people from poverty but also to ensure that some important aspects of social developments can be engineered
Microfinance in India, like in many other parts of the world, is not just a tool for financial inclusion, as has been noticed through thousands of case studies. Even though the mission started off as one to include those people
Natural calamities and its aftermath — how it impacts the rural economy, especially those who are trying to come out of poverty, using MFI loans
The surety of a better life, brought forth by loan from a MFI for an economically backward rural household, is usually guaranteed, when mixed with the enterprise and hard work of a budding entrepreneurial woman. But even best-laid plans sometimes
The government should create equity funds to support the capital requirement for women entrepreneurs, besides providing them with tax breaks and special rates of interest
The microfinance market in India, whose curve is moving upwards, is estimated to be growing at an average annual rate of nearly 80 percent for the last three years. This steady growth has attracted the attention of private equity firms
