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| Article Name : | | | MICROFINANCE- AN EFFECTIVE POVERTY ALLEVIATION TOOLS IN INDIA | | Author Name : | | | SUNIL LOHIYA | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | ROR-313 | | Article : | |  | Author Profile | | Abstract : | | | This paper focus on the growth and transformation of microfinance organization and SHG in India. Microfinance is become a significant force in India, India is a second largest populated country in the world and approximately 70% of its population lives in rural area, around 60% of rural people depends on agricultural activities. India falls in low income category because of population, Low rate of education, low sex ratio, unbalanced Distribution of Resources, Environmental Degradation, Economic and Demographic Trends and Individual Responsibility and Welfare Dependency. Recent times India's per capita income grew by 15.6 per cent to Rs 53,331 per annum in 2010-11, crossing the half-a-lakh rupees mark for the first time, according to government data. Indian population depend on agriculture but the production level of agriculture is seems to be very low, keeping in mind removes this poverty tries to take initial steps like microfinance so The government and NABARD have recognized this and have emphasized the Small Help Group approach and working along with NGOs in its initiatives. Small help group based microfinance helps to remove poverty and huge gap between supply-demand. | | Keywords : | | - Poverty reduction,Poverty reduction
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