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Microfinance: How it works and helps people to fight poverty
If you look at the statistics, the extent of disparity in credit in our country is seemingly unbelievable.
The rural population comprising 60% of the total population makes up for only 2.3% of the total credit. Credit plays an important role in everyones life and helps us to progress to next big thing. Banks generally doesn’t give loans to poor households and government schemes are not helping to bridge this credit gap.
Of course, there are various factors - both qualitative and quantitative that are responsible for this.
So this is where micro finance institutions come into picture, they provide micro loans to poor and provide access to credit for poor households.
How micro finance institutions do this?
Strong community engagement
Personal agency
Focused discussion groups to help people improve their businesses
I talked to Sushil Thaker, the Vice President of Avanti Finance on my podcast (link in the comments) to better understand how #microfinance institutions function on a deeper level, how they sustain themselves and much more.
If you want to understand macro, there’s no way you can do so without understanding micro.
Do check it out for some really valuable insights that might help you in your pursuit of entrepreneurship.
Also check out,
https://www.investopedia.com/terms/m/microfinance.asp
Microcredit was a hugely hyped solution to global poverty. What happened?: https://www.vox.com/future-perfect/2019/1/15/18182167/microcredit-microfinance-poverty-grameen-bank-yunus
Challenges faced by Microfinance Institutions ; https://www.nelito.com/blog/challenges-faced-microfinance-institutions.html
Advantages and Disadvantages of Microfinance Companies : https://enterslice.com/learning/advantages-disadvantages-microfinance-companies/
What is microfinance and how it changed the world: https://www.lifegate.com/microfinance
If you have any feedback or comments, write in to [email protected], we would love to hear from you.
Follow Reinvent Podcast on Instagram: https://www.instagram.com/reinventpodcast/?hl=en
Follow Reinvent Podcast on Facebook: https://www.facebook.com/Reinvent-Podcast-103243901421217/
Subscribe & listen to The Reinvent Podcast on Spotify, Google Podcasts and in all other major podcasting apps.
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By pranay dasariIf you look at the statistics, the extent of disparity in credit in our country is seemingly unbelievable.
The rural population comprising 60% of the total population makes up for only 2.3% of the total credit. Credit plays an important role in everyones life and helps us to progress to next big thing. Banks generally doesn’t give loans to poor households and government schemes are not helping to bridge this credit gap.
Of course, there are various factors - both qualitative and quantitative that are responsible for this.
So this is where micro finance institutions come into picture, they provide micro loans to poor and provide access to credit for poor households.
How micro finance institutions do this?
Strong community engagement
Personal agency
Focused discussion groups to help people improve their businesses
I talked to Sushil Thaker, the Vice President of Avanti Finance on my podcast (link in the comments) to better understand how #microfinance institutions function on a deeper level, how they sustain themselves and much more.
If you want to understand macro, there’s no way you can do so without understanding micro.
Do check it out for some really valuable insights that might help you in your pursuit of entrepreneurship.
Also check out,
https://www.investopedia.com/terms/m/microfinance.asp
Microcredit was a hugely hyped solution to global poverty. What happened?: https://www.vox.com/future-perfect/2019/1/15/18182167/microcredit-microfinance-poverty-grameen-bank-yunus
Challenges faced by Microfinance Institutions ; https://www.nelito.com/blog/challenges-faced-microfinance-institutions.html
Advantages and Disadvantages of Microfinance Companies : https://enterslice.com/learning/advantages-disadvantages-microfinance-companies/
What is microfinance and how it changed the world: https://www.lifegate.com/microfinance
If you have any feedback or comments, write in to [email protected], we would love to hear from you.
Follow Reinvent Podcast on Instagram: https://www.instagram.com/reinventpodcast/?hl=en
Follow Reinvent Podcast on Facebook: https://www.facebook.com/Reinvent-Podcast-103243901421217/
Subscribe & listen to The Reinvent Podcast on Spotify, Google Podcasts and in all other major podcasting apps.