How Does Microfinance Help Achieve National Goals?
According to this CNN report , about 60% of India’s 1.3 billion people live on less than $3.10 a day. That’s as low as INR 250 a day. Almost half of this population is women. They struggle with a myriad of challenges. These range from trying to live with dignity, to scarcity of resources to meet medical expenses, and even their basic daily needs. This is where microlending or microfinance comes into play. It helps to stabilize their earnings, plays a role in their prosperity, and helps in habitat development . This blog talks about how microfinance works and its importance in helping women from poor households break the cycle of prosperity and fulfill their ambitions. How does microfinance work? Before we talk about how microfinance has a tremendous impact on the living conditions of women including their habitat improvement , let’s understand how it works. Microlending is a service directed at unemployed people or those from low-income households who othe...