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8659201-microfinance

8659201-microfinance

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Published by Prasad Kumar

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Published by: Prasad Kumar on Oct 15, 2010
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03/23/2011

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Need for MicroFinance
 
Evolution of Microfinance in India• Microfinance has been in practice for ages ( though informally). • Legal frameworkfor establishing the cooperative movement set up in 1904. • Reserve Bank of IndiaAct, 1934 provided for the establishment of the Agricultural Credit Department.• Nationalisation of banks in 1969 • Regional Rural Banks created in 1975. • NABARD established as an apex agency for rural finance in 1982. • Passing of Mutually Aided Co-op. Act in AP in
 
Considerable gap between demand and supply for all financial services Majority of poor are excluded from financial services. This is due to, the following reasons 5. Bankers feel that it is fraught with risks and uncertainties. 6. High transaction costs 7. Unfavourable policies like caps on interest rates which effectively limits

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