Advances and Applications in Economics and Business Management
Volume 1, Issue 1, Pages 23 - 32
(January-June 2022) http://dx.doi.org/10.17654/EBM2022003 |
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ROLE OF NBFC-MFIs TOWARDS INCLUSIVE GROWTH IN INDIA
C. Anitha, S. Galab and D. Raghunatha Reddy
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Abstract: The income gap generated between the haves and have-nots has deprived a part of the society, formal financial services, subsequently, lead to financial exclusion. A number of inclusive measures were taken by GOI through government promoted schemes through its various ministries and the regulators, to include the excluded segment of population towards financial inclusion. During 2002, Vajpayee’s government’s eight point of growth path had an agenda to provide the poor access to savings, credit and insurance services. Ever since microfinance is considered as a priority segment, to offer inclusive growth; post which there is a phenomenal growth is witnessed. In this backdrop, study attempts to guise at the role of MFIs towards the inclusive growth through parameters of outreach and gross loan portfolio towards financial inclusion.
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Keywords and phrases: financial inclusion, NBFC-MFIs, outreach, GLP.
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