Micro Finance and Empowerment of Rural Poor in India

In India, micro finance has emerged as a visible credit channel to the poor, whose access to conventional credit sources is constrained by the requirement of collateral and high transaction costs. Micro finance is routed through self-help groups (SHGs). Over the years, the SHG-bank linkage program has emerged as the major micro finance program. The focus of the SHG-bank linkage program is largely on those rural poor who have no sustainable access to the formal banking system. The target groups, therefore, broadly comprise small and marginal farmers, agricultural and non-agricultural laborers, artisans and craftsmen, and other poor engaged in small businesses-like vending and hawking. For India's rural poor, the program has been providing access to the formal banking system and has achieved several milestones in terms of gender sensitization, empowerment, and poverty alleviation. This book contains research papers which provide deep insights into the role and functioning of micro finance institutions as strategic partners in the empowerment of rural poor in India.

Sudhansu Kumar Das is currently lecturer in Commerce, V.N. (Autonomous) College, Jaipur, Orissa, affiliated to Utkal University, Bhubaneswar. He was awarded Ph.D degree by Utkal University, Orissa in 2006. He has published 3 books, 8 papers and 15 articles. He has completed one UGC-sponsored research project and organized state level seminars. His areas of research interest include development economics, gender studies and finance.

Sanjeeb Kumar Jena is Lecturer in Commerce in Aeronautic College, HAL, Sunabeda, Orissa. He obtained his masters degree from Utkal University, Bhubaneswar in 1990, topping the list of successful candidates. He was awarded Ph.D degree by by same university in 2011. He has to his credit a number of research papers published in reputed journals.

Sanjay Kanti Das is presently Head, Department of Commerce, Lunding College, Lumding, Nagaon, Assam He has contributed a number of research papers in different research journals and books. His key areas of interest are banking and finance, micro credit, and rural development.