Journey of Microfinance In India - Ignited Minds Journals

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Journal of Advances and Scholarly Researches in Allied Education [JASRAE] (Vol:13/ Issue: 2) DOI: 10.29070/JASRAE
Authors: Rakesh Kumar*,
Subjects: Multidisciplinary Academic Research

Year: Jul, 2017
Volume: 13 / Issue: 2
Pages: 255 - 257 (3)
Publisher: Ignited Minds Journals
Source:
E-ISSN: 2230-7540
DOI:
Published URL: http://ipublisher.in/I/a/55903
Published On: Jul, 2017

Article Details

Journey of Microfinance in India | Original Article

Rakesh Kumar*, in Journal of Advances and Scholarly Researches in Allied Education | Multidisciplinary Academic Research

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ABSTRACT:

The concept of micro credit is not new. It existed in every society in one form or other. Many informal credit groups have been operating in many countries for several years like the susus in Nigeria and Ghana, chit funds and Rotating Savings and Credit Associations (ROSCAs) in India, tontines in West Africa, pasanaku in Bolivia, hui in China etc. It is believed that initially, the informal financial institutions emerged in Nigeria dating back in the fifteenth century.