• V. Sai Chitra
• Dr.D.Muniswamy
• Sri M.Pandarinath

ABSTRACT: “The moment you say Microfinance everybody wants to help you” - Muhammad Yunus In a country like India where 70 percent of its population lives in rural area and 60 percent depend on agriculture, Microfinance can play a vital role in providing financial services to the poor and low-income individuals. Microfinance is regarded as a useful tool for socio economic up-liftment in a developing country like India. It is expected to play a significant role in poverty alleviation and development. The emphasis of present paper is to study the performance and role of microfinance institutions in the development of India. India is one of the highly populated countries in the world currently. Reason being unawareness, illiteracy, avoidance or disinterest; in turn leading to economic downfall and almost 30-35% of the people are under the Below Poverty Line (BPL). These people are not even able to meet their consumption need. Therefore, there is a need of a tool that not only serves them but also make them self-capable, Microfinanceis such an approach that would result in the better standard of living for them.

KEY WORDS: Growth of Micro Finance, Tool for alleviating poverty, Standard of Living

"MICRO FINANCE IN INDIA: FIRST STAGE TO ERADICATE POVERTY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 9, page no.1086-1092, September-2018, Available :http://www.jetir.org/papers/JETIR1809954.pdf

"MICRO FINANCE IN INDIA: FIRST STAGE TO ERADICATE POVERTY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 9, page no. pp1086-1092, September-2018, Available at : http://www.jetir.org/papers/JETIR1809954.pdf