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Assessing Microfinance Potentiality in India with Special Reference to Odisha: Combating Global Recession Through Local Intervention

In: Microfinance to Combat Global Recession and Social Exclusion

Author

Listed:
  • Navin Kumar Rajpal

    (Sidho-Kanho-Birsha University)

  • Sharmila Tamang

    (Mizoram University)

Abstract

The microfinance operation and outreach have shown significant positive impact in curbing global poverty and unemployment. The exclusive characteristic of channelizing of resources through community intervention and participation has positively guided the local, national, as well as global economic cycle. Since 1990, the financial institutions with their pro-poor products and services successfully met the required need and move out 1.1 billion peoples from extreme poverty. Globally, the microfinance institutions with its wide range of financial services have successfully catered 33% of borrowers and have estimated to be reached 139 million low income and underserved clients with portfolio of $114 billion (Microfinance Barometer, 2018). South Asia continues to lead global market in outreach by sharing 60% of global borrowers. The present study tries to link the impact of rural economic transaction through microfinance program and its contribution in generating rural production and consumption linkages through incorporating 240 WSHG rural members from two major districts, Balasore and Mayurbhanj, of Odisha in India. The study finds significant impact of the program in generating production/services at local level and assesses its replications in various economic indicators such as expenditure, saving and further investments.

Suggested Citation

  • Navin Kumar Rajpal & Sharmila Tamang, 2022. "Assessing Microfinance Potentiality in India with Special Reference to Odisha: Combating Global Recession Through Local Intervention," Springer Books, in: Ramesh Chandra Das (ed.), Microfinance to Combat Global Recession and Social Exclusion, chapter 0, pages 147-158, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-4329-3_10
    DOI: 10.1007/978-981-16-4329-3_10
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