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Learn what microfinance is, how it works, and why it is important for poverty alleviation and economic development. Explore the different types, features, advantages, and disadvantages of microfinance with examples and sources. Microfinance is a term for financial services offered to unemployed or low-income peoples or groups who lack access to conventional banking and related Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. [1][2] Learn about the concept, evolution, regulation, and impact of microfinance in India, a tool for financial inclusion and poverty alleviation. Find out the current status, challenges, and government initiatives for the sector.
