Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. [1][2] Microfinance offers financial services for low-income individuals without traditional banking. Learn its types, features, objectives, benefits & how microfinance in India works. Microfinance is a term for financial services offered to unemployed or low-income peoples or groups who lack access to conventional banking and related Learn about the history, growth, and challenges of the microfinance sector in India, which provides financial services to the underserved and marginalized populations. Explore the different types of microfinance lenders, the regulatory framework, and the government initiatives to support the sector.
