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Microfinance provides small loans, savings, and basic financial services to low-income populations who otherwise rely on moneylenders and loan sharks. It is based on the Grameen Bank model and aims to alleviate poverty. Microfinance institutions (MFIs) in India increased their loan accounts from 10 million in 2007 to 27 million in 2010, with loan amounts outstanding growing from $840 million to $4 billion over that period. SKS Microfinance is India
- Author
- Deepti Dwivedi
- Language
- EN