Problems & Prospects of Microfinance Institutions–with Special Reference to Chandigarh
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 1
Abstract
Microfinance is defined as any activity that includes the provision of financial services such as credit, savings, and insurance to low income individuals which fall just above the nationally defined poverty line, and poor individuals which fall below that poverty line, with the goal of creating social value. The creation of social value includes poverty alleviation and the broader impact of improving livelihood opportunities through the provision of capital for micro enterprise, and insurance and savings for risk mitigation and consumption smoothing. This research paper seeks to identify the risks and challenges facing the microfinance industry as seen by practitioners, investors, regulators and observers of the microfinance industry and others. Microfinance has undergone plenty of changes in the last decade; many trends have emerged and the service scope of many financial services has changed too (for instance, mobile banking has evolved over the last several years). Overall, the survey highlighted significant concerns about the future of microfinance and the need for critical issues to be addressed in order to ensure the long-term survival of the industry. So this survey explores the main risks and challenges facing by the microfinance industry.
Authors and Affiliations
Neha . , Ranu Kumar
Keywords
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- EP ID EP414511
- DOI 10.9790/5933-0901041523.
- Views 172
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