• ARITRA BRAHMA
• RAJASI DUTTA

Microfinance is one of the most noticeable innovations in eradicating the unemployment and poverty in the rural areas in India as well as in West Bengal. The most important benefit of microfinance is that it helps long-term financial support in the backward rural areas. Economic growth, sustainable development and poverty alleviation can be achieved effectively with the help of Microfinance. There is a rapid growth in the strength of microfinance in the rural areas of our country. Remarkable progress has been made during the last two decades in creating new techniques to deliver financial services to the poor on a sustainable basis. These loans are aimed at empowering the impoverished people to start their own businesses and to grow their money so that they can achieve long-term financial independence and develop sustainably. It helps in promoting sustainable agriculture and sound conservation of natural resources. Microfinance helps to empower the poor women in rural areas.This paper mainly focuses on the benefits and challenges of microfinance in rural areas for a sustainable development and the role of microfinance institutions (MFIs) operating in rural West Bengal which are helping in financial upliftment.

Microfinance, Microcredit, Micro-Insurance, Sustainable Development, Microfinance Institution (MFI), Self Help Group Bank Linkage Programme (SBLP)

"MICROFINANCE – A STEP TOWARDS FINANCIAL UPLIFTMENT IN RURAL BENGAL", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.64-76, April-2019, Available :http://www.jetir.org/papers/JETIR1904D10.pdf

"MICROFINANCE – A STEP TOWARDS FINANCIAL UPLIFTMENT IN RURAL BENGAL", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp64-76, April-2019, Available at : http://www.jetir.org/papers/JETIR1904D10.pdf