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What is Micro Finance

Chapter 13
Rural Entrepreneurship and Innovation in the Digital Era
Microfinance refers to the arrangement of monetary administrations to low-pay customers, including shoppers and the independently employed (Ledgerwood, 2000).
Published in Chapter:
An Advancement to the Grameen Bank Model
Khushboo Deepakkumar Bhatt (Charotar University of Science and Technology, India) and Manali Pinank Vin (Symbiosis International University, India)
Copyright: © 2021 |Pages: 17
DOI: 10.4018/978-1-7998-4942-1.ch013
Abstract
This chapter proposes the concept of the Grameen Bank initiated by Muhammad Yunus as a prototype for promoting rural entrepreneurship within the under-developed rural community governed by the digital portal. There are many factors that were considered important for the shift from microfinance to financial inclusion when proposing the model. One of the key factors is what is happening with data in general and our ability through digitization to have a more comprehensive understanding of the needs of the poor community. The Grameen model is considered as an advanced empathetic financial service that is appropriate for the needy poor women located in rural locations. By analyzing prior literature on Grameen model, in this chapter, an advancement to the existing Grameen model is proposed.
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