The Microcredit Foundation of India and Poverty in India

The Microcredit Foundation of India is a non- profit organization, and effective tool for alleviating poverty. The Microcredit Foundation has its base located in southern rural India. Microcredit works with just about everyone who needs their help; however their focus is women. Microcredit presents the women of rural communities with the opportunity to start a business. The services of micro credit are dedicated to creating a better stable economy, opportunities in the establishment of medium sized enterprises, and co-operative development. The Microcredit Foundation of India provides sufficient and affordable customer oriented funding and other financial services as well as consulting and training to the target groups. Microcredit also†¦show more content†¦With the help of Microcredit, people no longer had to borrow money from relatives. In many cases, the availability of elegant, safe and accessible savings products for the poorest is as important, if not more important, i n poverty reduction than Microcredit. . Microcredit is based on a separate set of principles, which are distinguished from general financing or credit. The savings-ed microfinance has gained recognition as an effective way to bring very poor families low-cost financial services. It’s not only provided in poor countries, but also in one of the world’s richest country USA, where 37 million people live below the poverty line (Grameen Bank). In Grameen Bank even a beggar gets special attention. A beggar comes under a campaign from Grameen Bank, which is designed to convince to join Grameen programme. The bank explains how she can carry some merchandise with her when she goes out to beg from door to door and earn money, or she can display some merchandise by her side when she is begging in a fixed place. Grameens idea is to graduate her to a noble livelihood rather than continue with begging. Such a programme would not be a part of a conventional banks work. Other developed countries in which the micro-loan model is in fact gaining momentum includes, Israel, Russia, and Ukraine. Micro-loans given to small business entrepreneurs are also used to overcome cultural barriers in the mainstream businessShow MoreRelatedMicrocredit and Social Business1873 Words   |  8 PagesFrom Microcredit to Social Business: Towards Making Poverty History Innovative ideas are not standstill, when ideas works they create attraction and developed gradually that microcredit did. In the process of advancement, idea continue to change, newer ideas emerge, sometimes it may outdo the original ideas and very different from the expectations (Mulgan, 2006, p. 154). In the course of time, Grameen Bank own by the ‘poorest of the poor’ who are mostly women becomes a giant that now has 31 differentRead MoreA majority of the Indian population lacks opportunities such as financial resources and thereby the1000 Words   |  4 Pages A majority of the Indian population lacks opportunities such as financial resources and thereby the ability to get jobs. They are stuck in an endless cycle which provides them with no opportunities to lift themselves out of poverty. Microcredit has been seen as a lifeline and as an opportunity by governments in developing countries, international funding organizations and donor agencies, in order to help the poor attain money since the 1950’s. It was in the 1950s and1960s, for the first time IndianRead MoreThe Growth And Poverty Improvement Of A Country Essay1539 Words   |  7 Pages CHAPTER 1 1.1.1 INTERNSHIP INTRODUCTION Finance is assumed to be one of the most important tools for the growth and poverty improvement in a country. Financial inclusion is a vision for every country to achieve so that it can provide quality services to its citizens. Govt. Has introduces many schemes to achieve the aim of Inclusive growth and abandoned access to Financial services. Many initiatives, schemes and reforms have been put into the place afterRead MoreEarly Life and Education4970 Words   |  20 Pagesillness.[12] Later, he passed the matriculation examination from Chittagong Collegiate School securing the 16th position among 39,000 students in East Pakistan.[13] During his school years, he was an active Boy Scout, and traveled to West Pakistan and India in 1952, and to Canada in 1955 to attend Jamborees.[13] Later when Yunus was studying at Chittagong College, he became active in cultural activities and won awards for drama acting.[13] In 1957, he enrolled in the department of economics at Dhaka UniversityRead MorePoverty Analysis in India: Policies to Reduce Poverty3146 Words   |  13 Pagesinvolved in dispersing of funds in poverty alleviating programs, the Government, the World Bank and the U.S. are helping India eradicate poverty through dispersing funds to build the economy, battle disease and also improve infrastructure. Corruption can occur through bribes and red tape from low level government levels to high levels. Even though there is corruption detected by politicians and bureaucrats. The Government of India has presented strategies to alleviate poverty through subsidies and otherRead MoreThe History of Micro-Credit as a Means for Development of Poor Nations1632 Words   |  7 Pagesopportunities for people to lift themselves out of poverty. Microcredit has been used as a method by governments in developing countries, international funding organizations and donor agencies, in order to help the poor make money since the 1950’s. During the 1950s and1960s, the Indian gov ernment started disbursing loans to families in rural areas that worked in the agricultural sector as well as city-dwelling families to promote economic growth throughout India with collaboration with the Indian GovernmentRead MoreBuilding Social Business8301 Words   |  34 Pagesworldscientific.com/doi/abs/10.1142/S1084946711001744 INTRODUCTION Social business, as the term had once been commonly used, was first defined by Nobel Peace Prize laureate Prof. Muhammad Yunus and is described in his books Creating a world without poverty—Social Business and the future of capitalism and Building Social Business—The new kind of capitalism that serves humanitys most pressing needs. In these books, Yunus defined a Social Business a business: * Created and designed to address a socialRead MoreCapital And Financial Development Report4149 Words   |  17 Pagesservices. This pandemic is even more alarming when contextualized further. Close to 73% of poor people remain unbanked, more than half of adults in the poorest 40% of households in developing countries, and about 80% of the poor living under the $2/day poverty line have no form of bank account due to a plateau of reasons ranging from costs, travel distances, and other burdensome requirements involved in opening financial accounts. To combat this undesirable phenomenon, the overwhelming majority of policyRead MoreOverview of Housing Microfinance1898 Words   |  8 Pagesstore inventory, and conduct business. The MFI involvement is growing constantly. Participating actors in housing microfinance include urban developers, regulated financial institutions, government agencies, credit cooperatives, NGOs with an urban poverty focus, and larger MFI sponsors. Traditionally, housing finance for low-income people has been part of a slum upgrade or urban development strategy, with the financial service accompanied by construction assistance or land rights advocacy. IncreasinglyRead MoreThesis on Empower Women Through Micro Credit Programmes18140 Words   |  73 Pagesself-help micro credit programmes are tools for empowering poor women. Micro credit is about much more than access to money. It is about women gaining control over the means to make a living. It is about women lifting themselves out of poverty and vulnerability. It is about women achieving economic and political empowerment within their homes, their villages, their countries. As Noeleen Heyzer of UNIFEM reveals in the above statement, there is clearly an important role for