International Journal of Social Science & Economic Research
Submit Paper

Title:
MICROFINANCE: AN APPROACH FOR FINANCIAL INCLUSION IN INDIA

Authors:
Anju Singla and Parul Mahajan

|| ||

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.

References
[1]. Arputhamani, J., & Prasannakumari, K. (2011, Sep-Nov). Financial Inclusion through Micro Finance: The Way to Rural Development - A Case Study of Rajapalayam Block in Virudhunagar District. KKIMRC International Journal of Research in Finance and Accounting (IJRFA), 1(1), 94-115.
[2]. Bawa, M. (2014). Financial Inclusion in Goa an analysis of Access to and Use of Banking Services. Goa University.
[3]. Chhabra, N. (2014). Financial Inclusion in India. Ph.D Dissertation. Rohtak: Maharshi Dayanand University.
[4]. Chugh, R. (2015). A Study on Financial Inclusion in Indian Banking Sector. Ph.D Dissertation. Kurukshetra University.
[5]. Ghosh, A. (2007). Financial Inclusion through Micro Finance in India and Emerging Role of POSB: An Analysis. 60th All India Conference, Osmania University. Hyderabad.
[6]. Grover, P., & Singla, A. (2013). Microfinance - A Tool for Value Creation. UGC Sponsored National Seminar on 'Value Creation and Sustainable Development for the New Age Business: Issues and Challenges'. Patiala: Punjabi University .
[7]. Gupta, A., Chotia, V. R., & Muralidhar, N. (2014). Financial Inclusion and Human Development: A State-wise Analysis from India. International Journal of Economics, Commerce and Management, II(5), 1-23.
[8]. Kalunda, E. (2014). Financial Inclusion Impact on Small-Scale Tea Farmers in Nyeri County, Kenya. World Journal of Social Sciences, 4(1), 130-139.
[9]. Kote, A., & Honnakeri, P. (2012). Impacts of Microfinance on Poverty Alleviation and the Empowerment of Women with special reference to Rural Women Empowerment and Entrepreneurship Development. International Journal of Research in Commerce & Management, 3(4), 51-54.
[10]. Kumar, C., & Mishra, S. (2011). Banking Outreach and Household Level Access: Analyzing Financial Inclusion in India. 13th Annual Conference on Money and Finance in the Indian Economy.
[11]. Leeladhar, V. (2006, January). Taking Banking Services to the Common Man - Financial Inclusion. RBI Bulletin. Reserve Bank of India.
[12]. Maheswari, M. (2015). A Study on Financial Inclusion among Rural Women in Tirunelveli District. Manonmaniam Sundaranar University.
[13]. National Bank for Agriculture and Rural Development. (2016). Status of Micro Finance in India 2015-16. Micro Credit Innovations Department. Mumbai: G.R. Chintala.
[14]. Paramasivan, C., & Ganeshkumar, V. (2013). Overview of Financial Inclusion in India. International Journal of Management and Development Studies, 2(3), 45-49.
[15]. Sarma, M., & Pais, J. (2008). Financial Inclusion and Development: A Cross Country Analysis. Annual Conference of the Human Development and Capability Association . New Delhi.
[16]. Sudarshan, K., Narasamma, M., Krishna, V., & Himachalam, D. (2011). Women's Sustainibility through SHGs-Bank Linkage Proagramme - A Study of Chittoor District in Andhra Pradesh. International Journal of Research in Computer Application and Management, 1(7), 60-69.
[17]. Thakral, S., Uppal, N., & Chawla, E. (2010). Empowerment of Women through Micro Finance: A Boon for Development of Economy. International Journal of Research in Commerce and Management, 1(8), 146-150.
[18]. Uma, H., & Rupa, K. (2013). The Role of SHGs in Financial Inclusion: A Case Study. International Journal of Advanced Research and Innovations, 3(6), 1-5.

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.