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Title: MICROFINANCE: AN APPROACH FOR FINANCIAL INCLUSION IN INDIA
Authors: Anju Singla and Parul Mahajan
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Anju Singla1 and Parul Mahajan2 1Associate Professor, Centre of Management and Humanities (CMH), Punjab Engineering College (Deemed to be University), Sector-12, Chandigarh (160012), India. 2Assistant Professor, Centre of Management and Humanities (CMH), Punjab Engineering College (Deemed to be University), Sector-12, Chandigarh (160012), India
MLA 8 Singla, Anju, and Parul Mahajan. "MICROFINANCE: AN APPROACH FOR FINANCIAL INCLUSION IN INDIA." Int. j. of Social Science and Economic Research, vol. 3, no. 5, May 2018, pp. 2135-2143, ijsser.org/more2018.php?id=146. Accessed 2018. APA Singla, A., & Mahajan, P. (2018, May). MICROFINANCE: AN APPROACH FOR FINANCIAL INCLUSION IN INDIA. Int. j. of Social Science and Economic Research, 3(5), 2135-2143. Retrieved from ijsser.org/more2018.php?id=146 Chicago Singla, Anju, and Parul Mahajan. "MICROFINANCE: AN APPROACH FOR FINANCIAL INCLUSION IN INDIA." Int. j. of Social Science and Economic Research 3, no. 5 (May 2018), 2135-2143. Accessed , 2018. ijsser.org/more2018.php?id=146.
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Abstract: Financial inclusion is the process of availing a range of required financial services, at a fair price, at the right place, form and time, through formal means and without any form of discrimination to the populace. Micro Finance has emerged as an effective approach for achieving financial inclusion in the country. It provides micro financial services to the poor (individual or group) at their doorsteps and enables them to raise their level of income and standard of living. Therefore, this paper is an attempt to study the concept and contribution of microfinance for achieving financial inclusion in India. The findings of the study reveal that microfinance plays an important role in achieving financial inclusion in India through its two programmes i.e. SHG-Bank Linkage Programme and MFI-Bank Linkage Programme. These programmes have been successful in providing financial services to a large number of the poor. However, the beneficiaries of the microfinance programmes need to be self-sustainable to have prolonged effect on their wellbeing and society as a whole.

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