Micro-finance Schemes and Upward Economic Mobility: A Break from Poverty in India

Commerce

Poverty and unemployment can be solved, among other ways, by creating self-employment opportunities. Micro-financing has proved particularly useful to this end. It facilitates opportunities for self-employment and makes the credit-worthy. The divergence of services is central to the efficacy of micro-finance schemes and programmes. The concept of micro-finance is simple. With access to financial services, including credit, the poor find themselves in better positions to expand a micro-enterprise that will help them escape poverty. This makes micro-finance one of the most effective interventions for the economic empowerment of the poor. The focus of this study is to identify the role micro-finance programmes play in poverty alleviation and providing opportunities for upward economic mobility in India.

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.