{"id":26408,"date":"2015-03-10T05:39:17","date_gmt":"2015-03-10T05:39:17","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=26408"},"modified":"2024-04-03T13:15:50","modified_gmt":"2024-04-03T07:45:50","slug":"microfinance-hope-for-survival","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/microfinance-hope-for-survival\/","title":{"rendered":"Microfinance: Hope for Survival"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/03\/Microfinance-Hope-for-Survival.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-26603\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/03\/Microfinance-Hope-for-Survival.png\" alt=\"Microfinance Hope for Survival\" width=\"209\" height=\"241\" \/><\/a><\/p>\n<p>Dr. Muhammad Yunus felt the need of the poor people and found that they need finance i.e. Micro-finance. So he\u00a0 expanded financial services for the poor as a grassroots development strategy. Micro-finance which emphasis granting small loans to the poorest of the poor lacks of collateral. Poor people in developing countries typically have little access to formal financial services, but that they should possess some survival skills that make them credit-worthy. Credit programs can offer the poor access to small amounts\u00a0 and in turn they use these loans for self-employment projects to generate income and eventually become self-reliant.<\/p>\n<p>India&#8217;s economic growth has failed to make significant improvement in its poverty. In spite of various poverty alleviation programs by the government but failed to deliver the objective up to satisfaction level, \u00a0 the reason may be many such as failure to reach the target group loopholes in the system, unable to develop an effective system . Many countries including India experimented with subsidized credit which only led to increase in the Nonperforming assets (NPAs).<\/p>\n<div>\u0097Indian banking system is reluctant in providing loan to the poor people.The micro-finance has come forward to fill up this gap. But the outreach is too small as compared to the requirement\u00a0 and potential. In 2010, few micro borrower commit suicides due to excessive indebtedness in rural Andhra Pradesh.<\/div>\n<div><\/div>\n<div>Micro-finance is very powerful tool in reducing poverty if\u00a0 the needy\u00a0 people are given micro-finance along with job oriented skill and guidance.\u00a0 NABARD , Shelf Help Group (SHGs) groups &amp; NBFC-MFI\u00a0 and are main player in Micro-finance network. A number of NGOs and Micro-finance Institution (MFIs)\u00a0 successfully providing micro-finance to the needy and helping them bringing them\u00a0 out of the hell of poverty. Micro-finance is improving the living standard of the socially and economically weak section of the society.<\/div>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\">Click here for government certification in Accounting, Banking &amp; Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dr. Muhammad Yunus felt the need of the poor people and found that they need finance i.e. Micro-finance. So he\u00a0 expanded financial services for the poor as a grassroots development strategy. Micro-finance which emphasis granting small loans to the poorest of the poor lacks of collateral. Poor people in developing countries typically have little access&#8230;<\/p>\n","protected":false},"author":964,"featured_media":26603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519],"tags":[2137,1820,2541,2155],"class_list":["post-26408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","tag-growth","tag-india","tag-micro-funds","tag-society"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Microfinance: Hope for Survival - Vskills Blog<\/title>\n<meta name=\"description\" content=\"How would Microfinance serve as a ray of hope? Dr. Muhammad Yunus felt the need of the poor people and found that they need finance. 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