• Dr. Ch. Venkateswarlu

Since independence, unemployment and poverty have been two of the most important characteristics and challenges of India. The main reason for the above was the lack of sufficient credit opportunities for the poor and unemployed. These two factors have become the most difficult obstacle to the sustainable development of the country. A rapidly opening economy widens the gap between the rich and the poor. Combined with saving and investing for a sustainable lifestyle, microfinance enables the poor to access credit that leads to financial independence and growth. The poor use these loans productively to start their own business, own finances and get out of poverty once and for all. Microfinance is becoming a big buzzword in India. Over the last two decades, significant progress has been made in developing innovative technologies to deliver financial services to the poor in a sustainable manner. The purpose of these loans is to enable the poor to start their own business and grow money to achieve long-term financial independence and sustainability. Economic growth, sustainability and poverty alleviation can be effectively achieved through a tool such as microcredit. This article focuses on the challenges and initiatives to scale up microcredit in the context of sustainable development in India.

Microfinance, financial institutions, poverty reduction, sustainable economic growth

"A STUDY ON ISSUES AND CHALLENGES OF MICRO FINANCE IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 12, page no.222-225, December-2023, Available :http://www.jetir.org/papers/JETIRGA06025.pdf

"A STUDY ON ISSUES AND CHALLENGES OF MICRO FINANCE IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 12, page no. pp222-225, December-2023, Available at : http://www.jetir.org/papers/JETIRGA06025.pdf