Evaluate how microfinance is beneficial to common people?

1.	Evaluate how microfinance is beneficial to common people?
Answer» The objective of microfinance is ‘to provide financial services to common people including small lendings. It helps to promote saving habits and self employment. activities among the poor. This helps members to avail themselves of loans without providing any collaterals. Kudumbasree and Self Help Group for men are examples for this. Aims of microfinance: 1. Promotes saving habits. 2. Helps to improve the standard of living of the poor. 3. Helps to mobilize fund from individuals and use it for collective economic activities. 4. Individual abilities are used for the benefit of the group. 5. Gives loans to members when required. 6. Sets up small enterprises.

Answer»

The objective of microfinance is ‘to provide financial services to common people including small lendings. It helps to promote saving habits and self employment. activities among the poor. This helps members to avail themselves of loans without providing any collaterals. Kudumbasree and Self Help Group for men are examples for this.

Aims of microfinance:

1. Promotes saving habits.

2. Helps to improve the standard of living of the poor.

3. Helps to mobilize fund from individuals and use it for collective economic activities.

4. Individual abilities are used for the benefit of the group.

5. Gives loans to members when required.

6. Sets up small enterprises.

Discussion

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