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THE ROLE OF MICROFINANCE IN POVERTY ALLEVIATION: “A GLOBALAND INDIAN PERSPECTIVE”

Author: Gulnaaz Bano, B.A Economics (hons), Amity University Chhattisgarh,

Guide: Dr. Neelima Singh Thakur, Assistant Professor, Amity University Chhattisgarh

May 2025

Abstract:

This research examines the impact of microfinance initiatives on poverty alleviation, focusing on India while drawing comparative insights from global experiences. The study explores the evolution, effectiveness, challenges, and transformative potential of microfinance, particularly in enhancing financial inclusion and empowering marginalized groups. Using a qualitative, secondary research approach supported by case studies, the paper critically evaluates the successes and limitations of microfinance as a tool for socio-economic development. Findings reveal that while microfinance has expanded access to financial services and improved livelihoods for many, structural issues, over-indebtedness, and operational inefficiencies continue to hinder its full potential. The paper concludes with recommendations for strengthening microfinance as an inclusive development strategy.

Keywords: Microfinance, Poverty Alleviation, Financial Inclusion, India, Global Perspective, Women Empowerment, Microfinance Institutions, SHG-Bank Linkage, Digital Finance, Development Policy.