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After the nationalization of banks, the Reserve Bank of India and the government of India directed commercial bank to prepare schemes and programs to the help the poor farmers, Small Scale industries (SSIs) and the unemployed youth in country. Many banks prepared schemes and programs for this purpose as directed by Reserve Banks of India & Government of India. The liking of SHGs with the banking system has emerged as the major micro-finance programme in the country. Micro-Credit and Micro-Finance are changing the lives of the rural people, re-energizing the poor community, particularly the most oppressed, suppressed and neglected community of the rural society mainly comprising Schedule Caste and Scheduled Tribes. The access to credit as well as extending other financial products and services to these people of low income group below poverty line includes women, small mergical farmers, artisans, tenants agricultural labourers and share croppers. It also gives them access to micro insurance through which sudden expenses relating to serious illness or asset can be recovered. Present global financial crisis is not likely to impact small and micro enterprises and hence it is better for banks to focus on micro-finance. Various Developments in The area of Micro finance are narrated in the authors suggest that banks must not miss the opportunity and take it as a challenge for developing business.
ISBN : 9788183872638
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Pages : 407
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