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Ruminating on Microfinance as a Contrivance of Economic Development and Women Upliftment: A Case of India

Ruminating on Microfinance as a Contrivance of Economic Development and Women Upliftment: A Case of India

Manpreet Arora
Copyright: © 2023 |Pages: 21
ISBN13: 9781668475522|ISBN10: 1668475529|EISBN13: 9781668475539
DOI: 10.4018/978-1-6684-7552-2.ch010
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MLA

Arora, Manpreet. "Ruminating on Microfinance as a Contrivance of Economic Development and Women Upliftment: A Case of India." Research Anthology on Microfinance Services and Roles in Social Progress, edited by Information Resources Management Association, IGI Global, 2023, pp. 171-191. https://doi.org/10.4018/978-1-6684-7552-2.ch010

APA

Arora, M. (2023). Ruminating on Microfinance as a Contrivance of Economic Development and Women Upliftment: A Case of India. In I. Management Association (Ed.), Research Anthology on Microfinance Services and Roles in Social Progress (pp. 171-191). IGI Global. https://doi.org/10.4018/978-1-6684-7552-2.ch010

Chicago

Arora, Manpreet. "Ruminating on Microfinance as a Contrivance of Economic Development and Women Upliftment: A Case of India." In Research Anthology on Microfinance Services and Roles in Social Progress, edited by Information Resources Management Association, 171-191. Hershey, PA: IGI Global, 2023. https://doi.org/10.4018/978-1-6684-7552-2.ch010

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Abstract

This chapter focuses on the success of microfinance as a tool to create opportunities for women and other deprived sections in the formal financial structure of India. It also aims at focusing on the role of various institutions which play a significant position in providing rural credit through various channels. The author contends that in this pandemic where economies at global level require resilience strategies, microfinance once again can prove to be an effective strategy to bounce back in terms of improving the economic conditions of poor and vulnerable who suffered the most due to lockdowns, especially in developing nations like India. Localization and promotion of local product can help boost entrepreneurial activities at various levels, which can improve the distorted global supply chain slowly and gradually but effectively.

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