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| Geographical spread
of projects |
The need for efficient and reliable financial
services for the development of the economy
cannot be disputed. For those who live on
the margins of the economy, such access
can enable an increase in scale of their
operation, or diversification into a new
source of livelihood.
Studies reveal that about 80 per cent of
the rural poor do not have access to formal
financial services. In this context, Microfinance
has emerged as a widely recognised tool
to bring the underprivileged into the mainstream
financial sector. While there are other
models of dispensation, self-help, or savings
and credit groups, are predominant in India,
with nearly 80 per cent of organisations
offering microfinance services through the
formation of women’s groups.
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