Mollifying Poverty through Microfinance: Indian Perspective

Abstract

The micro finance is a tool through which the poverty level would be reduced because in India there are obstacles like population explosion, crime, illiteracy etc. The system which is concerned to eradicate the poverty is not keen to abolish the menace so people have to come out and get rid of this menace. The present paper is the slogan or promise with people who are suffering with the menace of poverty. We want to confine that how we reduce poverty level in our motherland India. And we are using the tool Micro Finance for empowerment. In every country there are different ways to empowerment. And as far as India is concerned, we know that India is multi-cultured, so it has to take various steps in Micro-Finance because every region is different from its counterpart and vice versa. It is up to state governments to involve themselves to see the things which are appropriate to be taken because they have records in which they can go and use as blue print for development and empowerment.  Copyright © www.iiste.org

Keywords: Micro-finance, Poverty, credit, income, saving, borrowing.