
International Journal For Multidisciplinary Research
E-ISSN: 2582-2160
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Impact Factor: 9.24
A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal
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Volume 7 Issue 1
January-February 2025
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The Contribution of Microfinance Firms to the Welfare of Those Living Below the Poverty Line and Their Awareness among Young People
Author(s) | Dr. Shyamali Ghosh |
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Country | India |
Abstract | The enormous impact microfinance companies have on improving the lives of those living below the poverty line is the main topic of this research. These organisations provide people access to modest loans and financial facilities, which support inclusive finance systems for underserved populations. The paper also looks at the ways in which these organisations advance financial literacy, empowering people to manage their money sensibly and make informed decisions. It emphasises this point by citing empirical evidence and real-world examples that demonstrate that microfinance initiatives not only lower poverty but also spur economic growth and social development in places without banking services, given that these areas are frequently underserved by other financial institutions. The importance of providing credit to the impoverished is emphasised in this essay as it eliminates needless reliance on welfare and enables less fortunate members of society to establish sustainable means of subsistence. |
Keywords | keywords: microfinance, young people, financial |
Published In | Volume 7, Issue 1, January-February 2025 |
Published On | 2025-01-12 |
Cite This | The Contribution of Microfinance Firms to the Welfare of Those Living Below the Poverty Line and Their Awareness among Young People - Dr. Shyamali Ghosh - IJFMR Volume 7, Issue 1, January-February 2025. DOI 10.36948/ijfmr.2025.v07i01.35044 |
DOI | https://doi.org/10.36948/ijfmr.2025.v07i01.35044 |
Short DOI | https://doi.org/g82gsq |
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E-ISSN 2582-2160

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