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"The Growth of Micro Finance and Need for Effective Governance - A Comprehensive Review", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 1, page no.320-324, January-2018, Available :http://www.jetir.org/papers/JETIR1801063.pdf

• Lakshminarayana K.S
• Dr. Devaraja T.S

the institutional crisis experienced during the year 2010 has been a nightmare for many service providers. The risk involved and the obvious negative atmosphere created during such crisis times overshadowed the capacity of the MFIs in bringing transformation in the community. The micro finance sector has seen a tremendous growth since then and recorded a 45% Compounded Annual Growth Rate (CAGR) growth. The growth in the micro finance sector can be highlighted by considering the various increments in the customer base and financial activities carried out. The share of rural customers was 69% in fiscal year 2012. That dropped marginally to 67% in 2013. In the following two years, the share of rural customers has declined drastically. In 2014, rural customers constituted 56% of the total. It dropped further to 33% in the following year. This busts the myth that Indian micro finance is predominantly a rural phenomenon, very different from what we see in Latin America and large parts of Africa and Asia. The current research paper attempts to provide a comprehensive review of the growth of micro finance and need for the governance in the changed scenario of doing business.

Micro Finance, SHGs, Regulations, RBI, Stakeholders

"The Growth of Micro Finance and Need for Effective Governance - A Comprehensive Review", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 1, page no. pp320-324, January-2018, Available at : http://www.jetir.org/papers/JETIR1801063.pdf