Outreach of Microfinance in India
Micro credit and micro finance are commonly used as interchanging words in subject areas. But actually, micro
finance is a ‘credit-plus’ program which includes the entire package of financial & non-financial service including credit,
saving, insurance, skill up gradation and entrepreneurial development, rendered to the poor for enabling them to defeat
poverty and economically empower themselves. The principal focus of micro finance programmes is on facilitating poorer to
graduate from the pre-micro-enterprise stage to the micro enterprise stage to and in successfully accessing credit from
financial intermediaries. Now its scope has been widened, micro credit is provided not only for productive purpose but also
for livelihood promotion and daily consumption needs. The present article is an attempt to evaluate the current status and
outreach of microfinance in India.
Keywords— Microfinance, Credit-Plus, entrepreneurial, Financial Intermediaries, Productive Purpose.