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Have Microfinance replaced commercial banks in rural areas?
Dear all,
It is generally difficult for the poor to get access to credit by conventional means because banks commonly require the security of collateral loans. Micro-finance and micro-insurance schemes are innovative ways of providing the poor with access to capital and thus a way out of poverty. Especially women often lack access to the financial resources necessary to escape poverty and social dependency. Micro-credit schemes can enable women to engage in economic activities and join social networks through which both poverty and social dependency can be overcome.
Tags: commercial banks, microfinance
Views: 8
Replies to This Discussion
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Permalink Reply by Dameka Cage on -
My Making Cents Project help at risk youth start there own business we are looking for seed funding i think you are right with how escaping poverty leaves those with lack of access with no other choice.I can serve as an anker her in United states
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Permalink Reply by Natwijuka Colin Bwempazi on -
Hello Dameka,
Thanks for the message, however am not conversant with the "seed Funding", as already written most of the poor people
are becoming poorer because of lack of security.
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Permalink Reply by Mohammad Azahar on -
In India-NO
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