A Study on Gap of Financial Literacy in Microfinance and Its Facilities in Lucknow

  • Rishi Raj Singh and Dr. Arvind Kumar Singh
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  • Rishi Raj Singh

    Student at Amity Law School, Lucknow, India

  • Dr. Arvind Kumar Singh

    Assistant professor at Amity Law School ,Lucknow, India

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Microfinance has proven itself to be one of the most significant tools to reduce the state of poverty in developing countries. It helps to gather people of low income to form self-help groups in order to facilitate services like credit, savings and insurance among the group. It provides opportunity for the people to get self employed by opening industries and businesses, helping them to tackle all the problems relating to poverty. In the previous two decades the microfinance industry has been catering the monetary needs of the poor people whom the traditional banks have rejected due to lack of collateral. The purpose of this paper is to present detailed analysis on the concept, history, evolution, and models of Microfinance. This paper also covers gap of financial literacy on Microfinance and its facilities.


Research Paper


International Journal of Law Management and Humanities, Volume 6, Issue 2, Page 1988 - 2006

DOI: https://doij.org/10.10000/IJLMH.114591

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