Microfinance in India: Current Trends and Challenges

The motive of the paper is to highlight the issues, challenges and opportunities of microfinance section in India. Many developmental programs implemented in India, microfinance programs have a strong rural oriented and targeted the poor, especially for women. Numerous challenges are ahead of this sector like lack of accessibility, unhealthy competition, seasonal migration, political unawareness, excluding vulnerable groups, threatening the financial discipline, resource constraints, low level knowledge of microfinance institutions (MFIs) etc. On the other hand, existing in poverty in India, along with opportunities, is paving way for the growth of this sector and offering a huge market potential for microfinance. The study is based on primary and secondary. Primary Data: 25 responded were selected on the basis of convenience sampling. Microfinance in India has significant contribute to financial inclusion and poverty alleviation .