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Q.

What is various Goverment / Banks schemes for pushing Micro Finance?

Asked by PMDhanya Nair, 04 Mar '09 12:28 pm
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Microfinance consists of making small loans, usually less than Rs 10,000, to individuals, usually women, to establish or expand a small, self-sustaining business. For example, a woman may borrow Rs 2,500 to buy chickens so she can sell eggs. As the chickens multiply, she will have more eggs to sell. Soon she can sell the chicks. Each expansion pulls her further from the devastation of poverty.

Microfinance, the Grameen way, includes several support systems that contribute greatly to its success. Microfinance institutions offer business advice and counseling, while clients provide peer support for each other through solidarity circles. For example, if a client falls ill, her circle helps with her business until she is well. If a client gets discouraged, the support group pulls her through. This contributes substantially to the extremely high repayment rate of loans made to microfinance entrepreneurs
Answered by Good Citizen, 04 Mar '09 01:21 pm

 
  
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