• Sangeetha.G

ABSTARCT This study aims to examine the role of microfinance institutions (MFIs) in promoting financial inclusion and driving economic development. Financial inclusion, characterized by access to and usage of financial services, has emerged as a critical component in addressing poverty and fostering sustainable development. MFIs, with their focus on serving low-income individuals and underserved populations, play a pivotal role in expanding financial access and empowering marginalized communities. This study uses Exploratory Research Design to find the Role of Microfinance Institutions in Promoting Financial Inclusion and Economic Development. Secondary data is used from published articles and journals. The main objective of this study is to to Assess the impact of microfinance institutions on financial inclusion, poverty reduction, and economic development, To Understand the mechanisms through which microfinance institutions facilitate access to financial services, to identify the Challenges faced by these Micro Finance Institution , To Identify best practices and policy recommendations for microfinance institutions and policymakers , To Explore innovations in microfinance, such as technology-driven approaches and alternative financial models. The findings of this study contribute to the existing literature by providing empirical evidence on the role of MFIs in promoting financial inclusion and their impact on economic development. The results will inform policymakers, practitioners, and stakeholders in designing and implementing effective strategies to leverage microfinance for inclusive and sustainable economic growth.

KEYWORDS:Financial services, Microloans , Women's empowerment , Gender equality,Social impact , Technology-driven approaches ,Policy recommendations.

"“A study on The Role of Microfinance Institutions in Promoting Financial Inclusion and Economic Development.”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 7, page no.j163-j180, July-2023, Available :http://www.jetir.org/papers/JETIR2307924.pdf

"“A study on The Role of Microfinance Institutions in Promoting Financial Inclusion and Economic Development.”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 7, page no. ppj163-j180, July-2023, Available at : http://www.jetir.org/papers/JETIR2307924.pdf