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Role of Micro credit organisations in the management of Rural Indebtedness in Idukki district Kerala state

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Though Gandhiji considered rural economy as the backbone of Indian economy, today the rural people are in a pathetic condition that most of them are utterly faced with the problem of indebtedness. Indebtedness means an obligation to pay money to another party. Rural indebtedness is an indicator of the weak financial infrastructure of a country, which includes inability of the economic system to reach to the needy farmers, landless people in the villages and the agricultural wage labourers and acts as a encumbrance for the overall sustainable growth, thus it is a serious and complex problem of an economy yet to unravel; it causes the rural people to succumb into the stress of debt. The micro credits are considered as the best platform for the development of confidence in the rural poor which never ever demands any collateral security for taking loan and the procedures for taking loan from micro credit are also very simple with affordable interest rate and timely expendable too. It is improved the confidence and knowledge of banking, utilization of savings and credit, taking the self-employment, interaction with the local organisation like – panchayats, Micro Finance Institutions(MFIs), Non Governmental Organisations(NGO), bank staff etc. The recent innovations in microfinance group formation not only satisfied the financial needs of the poor, but also encourage in improving the skills and knowledge of banking and financial literacy. Mobilised group ventures in the Kerala state, comprising Self Help Group (SHG), Microfinance Institution (MFI), Farmer Entrepreneurial Group (FEG), Ayalkoottam (AK), Neibourhood Groups (NHG) etc., perform an appropriate micro-enterprise with microfinance as essential component ensuring sustainable development.

Key Words

Rural Indebtedness, Source of loan, Micro credit organisations

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"Role of Micro credit organisations in the management of Rural Indebtedness in Idukki district Kerala state", International Journal of Emerging Technologies and Innovative Research ( | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 1, page no. pp132-136, January-2018, Available at : &

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Published Paper ID: JETIR1801025
Registration ID: 171246
Published In: Volume 5 | Issue 1 | Year January-2018
DOI (Digital Object Identifier):
Page No: 132-136
ISSN Number: 2349-5162

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(Volume 5 | Issue 1 | January 2018 |Impact factor 5.87)

Call For Paper | Volume 5 | Issue 1 | Impact factor 5.87

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