Manuscript Number : IJSRST219310

Integration of Digital Technologies in the Indian Microfinance Sector

Authors(1) :-Alpa Ghosh

The micro finance industry has a long and eventful history. It is evolved out of efforts to overcome poverty through capacity-building and women empowerment. Micro finance is now a major component of banking systems in the developing and under developing world. Microfinance institutions made their mark by using innovative approaches. These institutions gave small loans without collateral, to clients from low-income groups predominantly engaged in income-generating activities in the informal economy (Jayadev, 2016). For long time, it was believed that the free market could not provide financial services to the poor, effectively and efficiently. However, pioneers of microfinance such as those behind Bangladesh’s Grameen Bank demonstrated that it was possible to have a ‘social business’ (Cull, et al. 2009). These organizations were able to provide financial services, most importantly credit, to the poor in a profitable manner that too on a large scale. The formal banking system repeatedly failed on these points because of imperfect information about the borrower's creditworthiness, high transaction costs and lack of collateral.

Authors and Affiliations

Alpa Ghosh
Assistant Professor, The Bhopal School of Social Sciences, Bhopal, Madhya Pradesh, India

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Publication Details

Published in : Volume 9 | Issue 3 | March-April 2021
Date of Publication : 2021-04-20
License:  This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 59-72
Manuscript Number : IJSRST219310
Publisher : Technoscience Academy

Print ISSN : 2395-6011, Online ISSN : 2395-602X

Cite This Article :

Alpa Ghosh, " Integration of Digital Technologies in the Indian Microfinance Sector", International Journal of Scientific Research in Science and Technology(IJSRST), Print ISSN : 2395-6011, Online ISSN : 2395-602X, Volume 9, Issue 3, pp.59-72, March-April-2021.
Journal URL : https://ijsrst.com/IJSRST219310
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