ABSTRACT

Microfinance means providing very poor families with very small loans (micro credit) to help them engage in productive activities /small businesses. Over time, microfinance has come to include a broader range of services (credit, savings, insurance, etc.). the poor and the very poor who lack access to traditional formal financial institutions require a variety of financial products. In order to enable the poor people to access credit , there is a need to strengthen all the available channels of providing credit to the poor. such as Micro Finance Institutions , Cooperative Banks, State financial corporations, Regional Rural Banks and Primary Agricultural Credit Societies.  This paper explore the major initiative for development of micro finance in India.

Key words: Micro finance, Information Technology, micro credit