Wednesday, March 8, 2006

Provision of financial services to the poor through micro finance has seen significant growth over the last few years in India.

However, more than 300 million people in India are still under-served, believe industry representatives, making it imperative for micro finance to gather momentum and reach.

Addressing a seminar on micro finance, Ramesh Arunachalam, director, MicroSave India, said, “Micro finance delivers financial services like credit, savings, insurance, leasing and remittances to the bottom-of-the-pyramid clients. In the last few years, there has been an increase in the number of stakeholders for this sector and innovative micro finance products and services have been launched as well.”

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Source: Business Standard (link opens in a new window)