Micro Finance: A Way Out for the Poor | Original Article

ABSTRACT:

Today, one day, financial institutions dominate traditional banks because they provide services which are widely accepted by the poor because of simple processes. Such organizations may be state-based, non-governmental. Such financial problems are often as high an interest rate as all the poor face as they approach the Microfinance Institutions (MFIs) to take out micro-credits conveniently and end up having more money to repay due to high interest rates. They are very important in the financial sector. This research aims to examine how the microfinance services provided to individuals, organizations are working. The success of microfinance in recent years and now is demonstrated in this analysis. Focused financial services for poor and small businesses that lack access to traditional finances are individually provided by microfinance.