Financial Inclusion Through Microfinance: Is It Possible?

Arti Yadav (), Vani Kanojia () and Megha Jain ()
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Arti Yadav: Ramanujan College, University of Delhi
Vani Kanojia: Gautam Buddha University
Megha Jain: Department of Commerce, Daulat Ram College

Chapter Chapter 11 in Microfinance to Combat Global Recession and Social Exclusion, 2022, pp 161-175 from Springer

Abstract: Abstract The present study aims to contemplate the role of microfinance toward financial inclusion. The present economic scenario because of global financial issues has raised doubt regarding the past perspective on the positive role of finance in the growth and development of an economy. Moreover, financial performance has become a focused area for microfinance institutions instead of empowerment and reduction of inequality which was the base for their formation. Therefore, the chapter examines the behavior of microfinance toward curbing financial inequality across different regions in the world. The study further highlights the problems and prospects associated with the role of microfinance in financial inclusion. Adopting descriptive methodology using various secondary data sources, the present study arrives at the conclusion that a major part of the regions has reached the financial inclusion mission with some lacunae. The study thus suggests the use of digitalization and innovation aspects in the present digitalized world to the fullest in order to achieve the sustainability of the qualitative results.

Keywords: Financial inclusion; Microfinance; Regional participation; Financial institutions; Global findex database (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-4329-3_11

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DOI: 10.1007/978-981-16-4329-3_11

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