Socio-Economic Development of Tribals and Informal Microfinance System: A Study of Arunachal Pradesh

Informal micro-finance plays a very important role in the socio-economic life of the rural population in India. Informal financial services have always been an integral part of the traditional economy of India. Due to the minimal or no presence of the institutional / formal financial services in the rural areas, the resultant vacuum is created in financial system and people start to develop a financial system in their own way for their sustenance. The present volume deals with the origin and role of informal micro-finance system in the Apatani tribes of Arunachal Pradesh. This system is unique to the socio-cultural setting of the Apatani tribes. The common tenor of this book is that informal micro-finance system has helped the socio-economic development of the Apatanis in different ways, which they termed as “fund” in local parlance. It is pertinent to mention that the tribal’s culture is distinct and is fading day by day due to economic development and many other factors. The system of microfinance which helps in preserving the culture and custom is unheard of, but the informal micro-finance system of the Apatanis are helpful in preservation of their culture, tradition as well as the environment. Therefore the informal micro-finance of the Apatani tribe of Arunachal Pradesh is quite interesting as it is entwined with their socio-cultural setting and tenets. The book will encourage researchers to undertake further researches on the issue and it will facilitate the policy makers and administrators and other stake holders to take appropriate policies in regards to the informal micro-finance system.…