Microfinance is an emerging phenomenon that opens access to capital for individuals previously shut out from financial services. In its direct engagement with the poor, microfinance represents a new way for financial capital to potentially stimulate economic growth in developing countries. The principal interest of micro finance programmes is on helping the poor sector to move from the pre-micro-enterprise stage to the micro enterprise stage and in successfully accessing credit from financial intermediaries. Microfinance is also provided for livelihood promotion and daily consumption needs. The article is to evaluate the status of microfinance in India.
Keywords: Microfinance, outreach, financial intermediaries, borrowers, credit etc.
