Status of Microfinance in India 2012
Rural Credit through Self-Help Groups (SHG) and Joint Liability Groups (JLG) coupled with Microfinance by the banking system has been spearheaded by NABARD since 1992, taking a cue from the policies and guidelines for priority sector lending of RBI for all commercial banks. What has started with All India Rural Credit Survey, formation of SBI (1955) and its associates (1957), nationalisation of fourteen plus six commercial banks on two occasions (1969 and 1980) and setting up of Regional Rural Banks (1975) is now culminating in to microfinance. Inclusive growth, Financial Inclusion, Financial Literacy, etc are the buzz words these days. Here is a report from NABARD site with some useful data.
Rural Credit through Self-Help Groups (SHG) and Joint Liability Groups (JLG) coupled with Microfinance by the banking system has been spearheaded by NABARD since 1992, taking a cue from the policies and guidelines for priority sector lending of RBI for all commercial banks. What has started with All India Rural Credit Survey, formation of SBI (1955) and its associates (1957), nationalisation of fourteen plus six commercial banks on two occasions (1969 and 1980) and setting up of Regional Rural Banks (1975) is now culminating in to microfinance. Inclusive growth, Financial Inclusion, Financial Literacy, etc are the buzz words these days. Here is a report from NABARD site with some useful data.
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