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| Article Name : | | | MICRO FINANCE AND POVERTY REDUCTION IN INDIA | | Author Name : | | | Vandana K. Mishra | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | ISRJ-233 | | Article URL : | |  | Author Profile | | Abstract : | | | India falls under low income class according to World Bank. It is second populated country in the world and around 70% of its population lives in rural Area. 60% of people depend on agriculture, as a result there is chronic Underemployment and per capital income is very low. Micro- finance is often advocated as a solution to multiple social problems in India. Poor persons with access to credit can make investments in enterprises that bring them out of poverty. In the present era there is a need for practical and workable solution to improve the socioeconomic conditions of the poor in India, thereby helping in wiping out the deep-rooted problem of poverty. | | Keywords : | | - microfinance
- poverty reduction
- microfinance institution
- ngos
- shgs
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